Canaccord Genuity Group Cuts Ashtead Technology (LON:AT) Price Target to GBX 500

Ashtead Technology (LON:AT) had its price objective lowered by Canaccord Genuity Group from GBX 600 to GBX 500 in a research report sent to investors on Thursday,Digital Look reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently issued reports on AT. Royal Bank Of Canada downgraded Ashtead Technology to a “sector perform” rating and dropped their price target for the company from GBX 560 to GBX 400 in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 650 price objective on shares of Ashtead Technology in a report on Wednesday, September 2nd. Finally, Berenberg Bank cut their target price on Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating on the stock in a research note on Friday, August 21st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 587.50.

Ashtead Technology Stock Performance

Shares of AT opened at GBX 336 on Thursday. The company has a debt-to-equity ratio of 73.72, a quick ratio of 1.46 and a current ratio of 2.21. Ashtead Technology has a twelve month low of GBX 426 and a twelve month high of GBX 893. The firm’s 50 day moving average price is GBX 391.28 and its two-hundred day moving average price is GBX 426.90. The firm has a market cap of £266.47 million, a P/E ratio of 10.85 and a beta of 0.41.

Ashtead Technology (LON:AT) last issued its quarterly earnings data on Tuesday, September 1st. The company reported GBX 20.60 EPS for the quarter. Ashtead Technology had a net margin of 15.56% and a return on equity of 19.41%. On average, analysts forecast that Ashtead Technology will post 42.8247734 EPS for the current fiscal year.

Ashtead Technology Company Profile

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.