Ashtead Group (LON:AHT) Given New GBX 2,230 Price Target at Deutsche Bank

Ashtead Group (LON:AHT) had its target price raised by Deutsche Bank from GBX 2,050 ($26.79) to GBX 2,230 ($29.14) in a research report released on Wednesday, ThisIsMoney.Co.Uk reports. The firm currently has a hold rating on the stock.

AHT has been the subject of a number of other reports. Barclays reiterated an overweight rating and issued a GBX 2,230 ($29.14) price objective on shares of Ashtead Group in a report on Wednesday, June 19th. Liberum Capital reissued a buy rating on shares of Ashtead Group in a research report on Tuesday. Peel Hunt reissued a buy rating on shares of Ashtead Group in a research report on Monday. Royal Bank of Canada boosted their target price on shares of Ashtead Group from GBX 2,400 ($31.36) to GBX 2,800 ($36.59) and gave the stock an outperform rating in a research report on Monday, June 24th. Finally, Numis Securities reissued a buy rating and set a GBX 2,800 ($36.59) target price on shares of Ashtead Group in a research report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of GBX 2,427.78 ($31.72).

LON:AHT traded up GBX 20 ($0.26) during trading hours on Wednesday, reaching GBX 2,344 ($30.63). The company’s stock had a trading volume of 1,447,028 shares, compared to its average volume of 2,210,000. The company has a market cap of $10.79 billion and a price-to-earnings ratio of 14.17. Ashtead Group has a one year low of GBX 1,572.50 ($20.55) and a one year high of GBX 2,461 ($32.16). The business’s 50-day moving average is GBX 2,208.32 and its 200-day moving average is GBX 2,092.09. The company has a debt-to-equity ratio of 134.18, a current ratio of 1.39 and a quick ratio of 1.27.

The company also recently announced a dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be given a dividend of GBX 33.50 ($0.44) per share. This is a positive change from Ashtead Group’s previous dividend of $6.50. The ex-dividend date of this dividend is Thursday, August 15th. This represents a yield of 1.61%. Ashtead Group’s payout ratio is currently 0.24%.

In other news, insider Brendan Horgan sold 46,792 shares of the company’s stock in a transaction dated Thursday, July 4th. The shares were sold at an average price of GBX 2,320 ($30.31), for a total transaction of £1,085,574.40 ($1,418,495.23). Also, insider Lindsley Ruth acquired 2,250 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were bought at an average cost of GBX 2,202 ($28.77) per share, with a total value of £49,545 ($64,739.32).

About Ashtead Group

Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It offers equipment for use in lifting, powering, generation, moving, digging, compacting, drilling, supporting, scrubbing, pumping, directing, heating, and ventilating works. The company provides various types of construction equipment for non-residential construction markets; and facilities management equipment for the maintenance and repair of facilities.

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