Deutsche Bank Lowers Ashtead Group (LON:AHT) Price Target to GBX 1,400
Ashtead Group (LON:AHT) had its price objective dropped by Deutsche Bank from GBX 2,400 ($31.57) to GBX 1,400 ($18.42) in a report released on Tuesday, Stock Target Advisor reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank’s target price suggests a potential downside of 14.71% from the stock’s current price.
A number of other brokerages have also recently weighed in on AHT. Morgan Stanley raised shares of Ashtead Group to an “overweight” rating and increased their target price for the stock from GBX 2,420 ($31.83) to GBX 3,000 ($39.46) in a report on Monday, January 20th. HSBC reissued a “hold” rating on shares of Ashtead Group in a report on Monday, January 13th. Barclays increased their price objective on shares of Ashtead Group from GBX 2,430 ($31.97) to GBX 3,195 ($42.03) and gave the stock an “overweight” rating in a report on Monday, January 6th. Liberum Capital reaffirmed a “buy” rating on shares of Ashtead Group in a report on Tuesday, March 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Ashtead Group from GBX 2,800 ($36.83) to GBX 2,600 ($34.20) and set an “outperform” rating on the stock in a report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of GBX 2,506.36 ($32.97).
Shares of LON:AHT opened at GBX 1,641.50 ($21.59) on Tuesday. The stock has a market capitalization of $6.56 billion and a price-to-earnings ratio of 9.33. Ashtead Group has a 1-year low of GBX 1,010 ($13.29) and a 1-year high of GBX 2,797 ($36.79). The company’s fifty day moving average is GBX 2,252.64 and its two-hundred day moving average is GBX 2,322.91. The company has a debt-to-equity ratio of 188.65, a quick ratio of 1.34 and a current ratio of 1.46.
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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