Ashtead Group (LON:AHT) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Ashtead Group plc (LON:AHT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 5,560.68 ($70.08) and traded as high as GBX 6,280 ($79.14). Ashtead Group shares last traded at GBX 6,268 ($78.99), with a volume of 763,448 shares traded.

Wall Street Analysts Forecast Growth

AHT has been the subject of a number of recent research reports. Berenberg Bank reissued a “buy” rating and set a GBX 7,000 ($88.22) price objective on shares of Ashtead Group in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 6,500 ($81.92) price objective on shares of Ashtead Group in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,150 ($77.50) target price on shares of Ashtead Group in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 5,537.86 ($69.79).

Ashtead Group Price Performance

The stock has a market capitalization of £27.01 billion, a PE ratio of 2,354.72, a PEG ratio of 1.32 and a beta of 1.22. The company’s 50 day simple moving average is GBX 5,744.25 and its 200 day simple moving average is GBX 5,565.39. The company has a current ratio of 1.17, a quick ratio of 1.13 and a debt-to-equity ratio of 145.75.

Insider Buying and Selling at Ashtead Group

In other Ashtead Group news, insider Lucinda Riches sold 1,000 shares of Ashtead Group stock in a transaction on Thursday, October 17th. The shares were sold at an average price of GBX 5,880 ($74.10), for a total value of £58,800 ($74,102.08). 0.64% of the stock is owned by company insiders.

Ashtead Group Company Profile

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.