JPMorgan Chase & Co. Issues Positive Forecast for Ashtead Group (LON:AHT) Stock Price

Ashtead Group (LON:AHT - Get Free Report) had its target price raised by equities research analysts at JPMorgan Chase & Co. from GBX 6,600 ($84.14) to GBX 7,300 ($93.06) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 14.06% from the company's current price.

Several other equities research analysts also recently commented on the stock. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 7,000 ($89.24) target price on shares of Ashtead Group in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 6,500 ($82.87) price objective on shares of Ashtead Group in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a GBX 6,150 ($78.40) target price on shares of Ashtead Group in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Ashtead Group has a consensus rating of "Moderate Buy" and an average price target of GBX 6,441.67 ($82.12).

Ashtead Group Trading Up 0.3 %

Shares of Ashtead Group stock traded up GBX 16 ($0.20) during trading on Friday, hitting GBX 6,400 ($81.59). 440,122 shares of the company were exchanged, compared to its average volume of 1,051,177. The firm has a market capitalization of £27.95 billion, a P/E ratio of 2,415.09, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. The firm's fifty day moving average price is GBX 6,016.81 and its 200 day moving average price is GBX 5,616.02. The company has a debt-to-equity ratio of 145.75, a current ratio of 1.17 and a quick ratio of 1.13. Ashtead Group has a 1-year low of GBX 4,711 ($60.06) and a 1-year high of GBX 6,446 ($82.18).

Insiders Place Their Bets

In related news, insider Lucinda Riches sold 1,000 shares of the firm's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of GBX 5,880 ($74.96), for a total value of £58,800 ($74,961.75). Corporate insiders own 0.64% of the company's stock.

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.