Ashtead Technology (LON:AT) Posts Quarterly Earnings Results

Ashtead Technology (LON:AT) posted its quarterly earnings results on Tuesday. The company reported GBX 20.60 earnings per share for the quarter, Digital Look Earnings reports. Ashtead Technology had a net margin of 15.56% and a return on equity of 19.41%.

Ashtead Technology Stock Up 2.1%

Shares of LON:AT traded up GBX 7 on Thursday, reaching GBX 340. The company had a trading volume of 659,740 shares. The firm has a market capitalization of £269.64 million, a PE ratio of 10.98 and a beta of 0.41. The company has a current ratio of 2.21, a quick ratio of 1.46 and a debt-to-equity ratio of 73.72. Ashtead Technology has a 52-week low of GBX 426 and a 52-week high of GBX 893. The firm’s 50 day simple moving average is GBX 410.14 and its 200-day simple moving average is GBX 434.78.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 650 price target on shares of Ashtead Technology in a research report on Wednesday. Berenberg Bank lowered their price objective on shares of Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating for the company in a research note on Friday, August 21st. Finally, Royal Bank Of Canada cut shares of Ashtead Technology to a “sector perform” rating and dropped their target price for the stock from GBX 560 to GBX 400 in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 605.

Ashtead Technology Company Profile

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.