Berenberg Bank Cuts Ashtead Technology (LON:AT) Price Target to GBX 650

Ashtead Technology (LON:AT) had its price objective cut by Berenberg Bank from GBX 700 to GBX 650 in a report released on Friday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Separately, Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 560 price target on shares of Ashtead Technology in a report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 637.

Ashtead Technology Stock Down 3.1%

Shares of AT opened at GBX 347 on Friday. The company has a market capitalization of £275.19 million, a price-to-earnings ratio of 11.20 and a beta of 0.41. Ashtead Technology has a 52 week low of GBX 426 and a 52 week high of GBX 893. The stock’s 50-day moving average price is GBX 427.57 and its 200-day moving average price is GBX 439.34. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 78.29.

Insider Buying and Selling

In other news, insider Jean Cahuzac bought 9,500 shares of Ashtead Technology stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of GBX 423 per share, with a total value of £40,185. Company insiders own 3.28% of the company’s stock.

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. 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.