Ashtead Technology (LON:AT) Given New GBX 775 Price Target at Berenberg Bank

Ashtead Technology (LON:AT) had its price objective increased by Berenberg Bank from GBX 700 ($8.71) to GBX 775 ($9.65) in a research note issued to investors on Tuesday, Digital Look reports. The brokerage currently has a buy rating on the stock.

Ashtead Technology Stock Performance

LON:AT opened at GBX 687 ($8.55) on Tuesday. The firm has a market cap of £549.26 million, a PE ratio of 3,271.43 and a beta of 0.32. Ashtead Technology has a fifty-two week low of GBX 310 ($3.86) and a fifty-two week high of GBX 791 ($9.85). The company has a debt-to-equity ratio of 38.53, a quick ratio of 1.46 and a current ratio of 1.56. The business has a 50 day moving average price of GBX 724.26 and a 200-day moving average price of GBX 606.44.

Ashtead Technology Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be paid a GBX 1.10 ($0.01) dividend. This is a positive change from Ashtead Technology’s previous dividend of $1.00. The ex-dividend date is Thursday, May 2nd. This represents a yield of 0.15%. Ashtead Technology’s dividend payout ratio (DPR) is presently 476.19%.

About Ashtead Technology

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. It 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; mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and driver tooling, intervention skids, topside support, recovery tools, pumps, reels, ancillary deck equipment, and fabrication solutions; and asset integrity solutions, including imaging and inspection, oceanographic, marine growth removal, monitoring, mooring and riser inspection, environmental monitoring, offshore construction and life of asset monitoring, offshore wind foundation inspection, analysis, 3D imaging and metrology, and remote operations.