Ashtead Group (LON:AHT) Issues Quarterly Earnings Results

Ashtead Group (LON:AHT) posted its earnings results on Tuesday. The company reported GBX 77.20 ($0.98) earnings per share for the quarter, Digital Look Earnings reports. Ashtead Group had a net margin of 14.08% and a return on equity of 21.43%.

Ashtead Group Price Performance

LON AHT opened at GBX 4,512 ($57.34) on Tuesday. 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 company has a market cap of £24.64 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. Ashtead Group has a 52 week low of GBX 4,512 ($57.34) and a 52 week high of GBX 6,448 ($81.94). The firm’s 50-day simple moving average is GBX 5,054.71 and its two-hundred day simple moving average is GBX 5,460.09.

Ashtead Group Cuts Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Ashtead Group from GBX 6,600 ($83.87) to GBX 7,300 ($92.77) and gave the stock an “overweight” rating in a research note on Friday, December 6th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 7,000 ($88.96) target price on shares of Ashtead Group in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 6,800 ($86.42) price target on shares of Ashtead Group in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 6,550 ($83.24).

Insider Activity

In other news, insider Brendan Horgan bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of GBX 5,320 ($67.61) per share, with a total value of £212,800 ($270,428.26). 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.