Royal Bank of Canada Increases Ashtead Group (LON:AHT) Price Target to GBX 2,800

Ashtead Group (LON:AHT) had its target price raised by Royal Bank of Canada from GBX 2,400 ($31.36) to GBX 2,800 ($36.59) in a research note issued to investors on Monday, June 24th, ThisIsMoney.Co.Uk reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research analysts have also commented on the company. Jefferies Financial Group reissued a hold rating on shares of COMPASS GRP PLC/S in a research report on Tuesday, April 9th. Peel Hunt reissued a buy rating on shares of GB Group in a research report on Monday, June 17th. Barclays reaffirmed a top pick rating and set a GBX 3,250 ($42.47) target price on shares of in a research report on Wednesday, June 19th. Liberum Capital lifted their target price on Sylvania Platinum from GBX 35 ($0.46) to GBX 68 ($0.89) and gave the stock a buy rating in a research report on Thursday, April 18th. Finally, Deutsche Bank dropped their target price on from GBX 295 ($3.85) to GBX 285 ($3.72) and set a buy rating on the stock in a research report on Wednesday, June 19th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Ashtead Group currently has a consensus rating of Buy and a consensus target price of GBX 2,388.18 ($31.21).

Ashtead Group stock traded up GBX 47 ($0.61) during midday trading on Monday, reaching GBX 2,289 ($29.91). The stock had a trading volume of 1,241,352 shares, compared to its average volume of 2,210,000. The firm has a 50-day moving average price of GBX 2,102.95. The company has a debt-to-equity ratio of 134.18, a current ratio of 1.39 and a quick ratio of 1.27. Ashtead Group has a twelve month low of GBX 1,572.50 ($20.55) and a twelve month high of GBX 2,461 ($32.16). The stock has a market capitalization of $10.64 billion and a PE ratio of 13.84.

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

In other news, insider Brendan Horgan sold 46,792 shares of the business’s stock in a transaction that occurred on Thursday, July 4th. The stock was 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 Paul Walker acquired 14,000 shares of Ashtead Group stock in a transaction dated Friday, June 21st. The shares were acquired at an average price of GBX 2,163 ($28.26) per share, with a total value of £302,820 ($395,687.97).

Ashtead Group Company Profile

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.

Further Reading: Buy-Side Analysts

Analyst Recommendations for Ashtead Group (LON:AHT)

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