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

Ashtead Technology (LON:AT) had its price objective decreased by investment analysts at Deutsche Bank Aktiengesellschaft from GBX 720 to GBX 650 in a research note issued on Thursday,London Stock Exchange reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 81.56% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Berenberg Bank decreased their target price on Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating for the company in a research report on Friday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 560 price target on shares of Ashtead Technology in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 637.

Ashtead Technology Stock Performance

Shares of AT stock opened at GBX 358 on Thursday. The stock’s 50-day moving average is GBX 429.28 and its two-hundred day moving average is GBX 439.64. The company has a debt-to-equity ratio of 78.29, a quick ratio of 1.46 and a current ratio of 2.25. Ashtead Technology has a 1 year low of GBX 426 and a 1 year high of GBX 893. The firm has a market cap of £283.92 million, a price-to-earnings ratio of 11.56 and a beta of 0.41.

Insider Activity at Ashtead Technology

In related news, insider Jean Cahuzac purchased 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of GBX 423 per share, with a total value of £40,185. 3.28% of the stock is owned by company insiders.

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.