Ashtead Group (LON:AHT) Reaches New 12-Month Low – Time to Sell?

Ashtead Group plc (LON:AHT)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as GBX 50.38 ($0.62) and last traded at GBX 5,012 ($61.67), with a volume of 5529324 shares trading hands. The stock had previously closed at GBX 5,032 ($61.92).

Analysts Set New Price Targets

Several research firms have recently commented on AHT. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 7,000 ($86.13) target price on shares of Ashtead Group in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on Ashtead Group from GBX 6,600 ($81.21) to GBX 7,300 ($89.82) and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 6,800 ($83.67) price target on shares of Ashtead Group in a report on Monday, December 16th. One analyst has 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 6,550 ($80.60).

Ashtead Group Stock Performance

The firm has a market cap of £21.54 billion, a P/E ratio of 1,861.13, a P/E/G ratio of 1.32 and a beta of 1.22. The company has a debt-to-equity ratio of 145.75, a quick ratio of 1.13 and a current ratio of 1.17. The business’s 50-day simple moving average is GBX 5,691.66 and its 200 day simple moving average is GBX 5,517.16.

Ashtead Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be issued a $0.36 dividend. This represents a dividend yield of 0.45%. The ex-dividend date is Thursday, January 9th. Ashtead Group’s payout ratio is currently 3,018.87%.

Insider Buying and Selling at Ashtead Group

In related news, insider Brendan Horgan bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of GBX 5,320 ($65.46) per share, with a total value of £212,800 ($261,843.24). Also, 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 ($72.35), for a total value of £58,800 ($72,351.42). 0.64% of the stock is owned by corporate insiders.

About Ashtead Group

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.