Ashtead Group (AHT) Reaches New 52-Week High Following Analyst Upgrade

Ashtead Group plc (LON:AHT)’s share price hit a new 52-week high during mid-day trading on Thursday after Deutsche Bank raised their price target on the stock from GBX 1,650 to GBX 1,800. Deutsche Bank currently has a hold rating on the stock. Ashtead Group traded as high as GBX 2,007 ($27.01) and last traded at GBX 1,978 ($26.62), with a volume of 1744496 shares. The stock had previously closed at GBX 1,971 ($26.53).

Other equities research analysts also recently issued reports about the company. Citigroup reaffirmed a “buy” rating and set a GBX 2,000 ($26.92) price target on shares of Ashtead Group in a report on Monday, October 30th. Barclays reaffirmed an “overweight” rating and set a GBX 1,867 ($25.13) price target on shares of Ashtead Group in a report on Wednesday, September 13th. Liberum Capital reaffirmed a “buy” rating and set a GBX 2,030 ($27.32) price target on shares of Ashtead Group in a report on Thursday, October 19th. Peel Hunt reaffirmed a “buy” rating and set a GBX 1,800 ($24.23) price target on shares of Ashtead Group in a report on Tuesday, September 12th. Finally, Jefferies Group reissued a “buy” rating and issued a GBX 2,000 ($26.92) target price on shares of Ashtead Group in a report on Monday, September 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of GBX 1,895.50 ($25.51).

Ashtead Group (LON:AHT) last posted its quarterly earnings data on Tuesday, September 12th. The company reported GBX 31.50 ($0.42) EPS for the quarter, topping analysts’ consensus estimates of GBX 30.10 ($0.41) by GBX 1.40 ($0.02). The firm had revenue of £828.80 million during the quarter. Ashtead Group had a return on equity of 29.67% and a net margin of 17.04%.

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Ashtead Group Company Profile

Ashtead Group plc is an equipment rental company. The Company rents a range of construction and industrial equipment across a range of applications to a diverse customer base. The Company’s segments include Sunbelt and A-Plant. The Company operates in the United States, the United Kingdom and Canada.

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