Ashtead Technology (LON:AT) Posts Earnings Results

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

Ashtead Technology Stock Up 2.1%

LON AT traded up GBX 7 during mid-day trading on Thursday, hitting GBX 340. The company’s stock had a trading volume of 659,740 shares. The firm has a market capitalization of £269.64 million, a price-to-earnings ratio of 10.98 and a beta of 0.41. The company’s 50 day simple moving average is GBX 410.14 and its 200 day simple moving average is GBX 434.78. 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 twelve month low of GBX 426 and a twelve month high of GBX 893.

Analysts Set New Price Targets

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

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.