Berenberg Bank Issues Pessimistic Forecast for Ashtead Technology (LON:AT) Stock Price

Ashtead Technology (LON:AT) had its price target cut by investment analysts at Berenberg Bank from GBX 700 to GBX 650 in a note issued to investors on Friday,London Stock Exchange reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s target price indicates a potential upside of 81.56% from the stock’s current price.

Separately, Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 560 price target on shares of Ashtead Technology in a report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 637.

Ashtead Technology Stock Performance

Shares of LON:AT opened at GBX 358 on Friday. The company has a market capitalization of £283.92 million, a price-to-earnings ratio of 11.56 and a beta of 0.41. Ashtead Technology has a 52 week low of GBX 426 and a 52 week high of GBX 893. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 78.29. The firm has a 50 day moving average of GBX 429.28 and a 200 day moving average of GBX 439.64.

Insider Activity

In related news, insider Jean Cahuzac purchased 9,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of GBX 423 per share, with a total value of £40,185. Corporate insiders own 3.28% of the company’s stock.

About Ashtead Technology

Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East. The company offers survey and robotics equipment comprising geophysical, hydrographic, metocean, land surveying, positioning, ROV sensors, non-destructive testing, subsea inspection, remote visual inspection, and environmental products. It also provides mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and diver tooling, intervention skids, topside support, recovery tools, ancillary deck equipment, and fabrication solutions.