Ashtead Group (LON:AHT) Sets New 52-Week Low – Here’s Why

Ashtead Group plc (LON:AHT)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as GBX 4,764 ($60.38) and last traded at GBX 4,804 ($60.89), with a volume of 25646963 shares changing hands. The stock had previously closed at GBX 4,892 ($62.00).

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 7,000 ($88.72) price objective on shares of Ashtead Group in a research note on Wednesday, January 22nd. Jefferies Financial Group restated a “buy” rating and set a GBX 6,800 ($86.19) price target on shares of Ashtead Group in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. increased their price objective on Ashtead Group from GBX 6,600 ($83.65) to GBX 7,300 ($92.52) and gave the stock an “overweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,550 ($83.02).

Ashtead Group Trading Up 3.0 %

The stock has a market cap of £26.36 billion, a PE ratio of 17.18, a PEG ratio of 1.32 and a beta of 1.22. The company has a quick ratio of 1.13, a current ratio of 1.31 and a debt-to-equity ratio of 146.30. The stock’s fifty day moving average price is GBX 5,072.74 and its 200 day moving average price is GBX 5,474.48.

Ashtead Group Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, February 7th. Stockholders of record on Thursday, January 9th were paid a $0.36 dividend. The ex-dividend date was Thursday, January 9th. This represents a dividend yield of 0.45%. Ashtead Group’s dividend payout ratio is presently 28.47%.

Insider Activity

In related news, insider Brendan Horgan bought 4,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of GBX 5,320 ($67.43) per share, with a total value of £212,800 ($269,708.49). 0.64% of the stock is owned by corporate insiders.

Ashtead Group Company Profile

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.