Ashtead Group (LON:AHT) Sets New 12-Month High - Here's Why

Ashtead Group plc (LON:AHT - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 6,384 ($83.10) and last traded at GBX 6,296 ($81.96), with a volume of 119581023 shares. The stock had previously closed at GBX 5,968 ($77.69).

Analysts Set New Price Targets

A number of brokerages have commented on AHT. Berenberg Bank reissued a "buy" rating and set a GBX 7,000 ($91.12) price objective on shares of Ashtead Group in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 6,500 ($84.61) price objective on shares of Ashtead Group in a report on Wednesday, September 4th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 6,150 ($80.06) target price on shares of Ashtead Group in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Ashtead Group presently has a consensus rating of "Moderate Buy" and an average target price of GBX 5,537.86 ($72.09).

Ashtead Group Trading Up 5.6 %

The company has a market capitalization of £27.52 billion, a P/E ratio of 2,389.43, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. The company has a debt-to-equity ratio of 145.75, a current ratio of 1.17 and a quick ratio of 1.13. The firm has a fifty day moving average price of GBX 5,602.97 and a 200-day moving average price of GBX 5,532.81.

Insider Activity at Ashtead Group

In related news, insider Lucinda Riches sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of GBX 5,880 ($76.54), for a total value of £58,800 ($76,542.57). 0.64% of the stock is owned by company 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.