Ashtead Group (LON:AHT) Reaches New 12-Month High – Time to Buy?

Ashtead Group plc (LON:AHT) reached a new 52-week high on Friday . The stock traded as high as GBX 5,849.70 and last traded at GBX 5,076, with a volume of 1352943 shares traded. The stock had previously closed at GBX 5,086.

Analyst Upgrades and Downgrades

AHT has been the subject of a number of research reports. Royal Bank Of Canada reissued an “underperform” rating and issued a GBX 4,600 price target on shares of Ashtead Group in a research note on Friday, November 7th. Jefferies Financial Group lowered Ashtead Group to a “hold” rating and reduced their price objective for the company from GBX 5,900 to GBX 5,700 in a research report on Thursday, September 11th. JPMorgan Chase & Co. reissued a “no recommendation” rating on shares of Ashtead Group in a research note on Thursday, November 6th. Finally, Peel Hunt reaffirmed a “hold” rating and issued a GBX 5,000 price target on shares of Ashtead Group in a research report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 5,460.

Ashtead Group Price Performance

The company has a debt-to-equity ratio of 146.30, a current ratio of 1.31 and a quick ratio of 1.13. The company has a market capitalization of £21.32 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. The firm’s 50-day moving average is GBX 4,960.59 and its 200-day moving average is GBX 5,030.07.

About Ashtead Group

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services. The company offers its products and services for facilities maintenance and municipalities, such as office complexes, apartment complexes, government, hospitals, data centers, parks and recreation departments, schools and universities, shopping centers, pavement/kerb repairs, and golf course maintenance; construction of airports, highways and bridges, office buildings, data centers, schools and universities, shopping centers, residential, remodeling, manufacturing plants, and green energy plants; emergency response for fire, hurricanes, flooding, tornadoes, winter, storms, residential and health emergencies, alternative care facilities, points of distribution, and mobile testing facilities; and entertainment and special events, including national events, concerts, sporting events, film and telvision production, theme parks, festivals farmers' markets, local 5k runs, and cycle races.