Peel Hunt Reiterates “Buy” Rating for Ashtead Group plc (AHT)
Ashtead Group plc (LON:AHT)‘s stock had its “buy” rating reiterated by equities research analysts at Peel Hunt in a research note issued on Wednesday. They currently have a GBX 1,350 ($17.98) target price on the stock. Peel Hunt’s price target points to a potential upside of 3.85% from the company’s previous close.
In related news, insider Edmunds,Wayne acquired 7,000 shares of Ashtead Group plc stock in a transaction on Monday, July 4th. The stock was purchased at an average cost of GBX 1,079 ($14.37) per share, with a total value of £75,530 ($100,599.36). Also, insider Cole,Christopher sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of GBX 1,186 ($15.80), for a total value of £296,500 ($394,912.09).
Shares of Ashtead Group plc (LON:AHT) traded up 3.34% during trading on Wednesday, reaching GBX 1300.00. The company’s stock had a trading volume of 6,353,589 shares. The company’s market capitalization is GBX 6.52 billion. The stock has a 50 day moving average of GBX 1,216.39 and a 200-day moving average of GBX 1,002.76. Ashtead Group plc has a 1-year low of GBX 749.00 and a 1-year high of GBX 1,378.93.
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The business also recently disclosed a dividend, which will be paid on Friday, September 9th. Shareholders of record on Thursday, August 11th will be paid a dividend of GBX 18.50 ($0.25) per share. This is an increase from Ashtead Group plc’s previous dividend of $4.00. This represents a yield of 1.88%. The ex-dividend date of this dividend is Thursday, August 11th.
Several other research firms have also recently commented on AHT. JPMorgan Chase & Co. boosted their target price on Ashtead Group plc from GBX 1,140 ($15.18) to GBX 1,340 ($17.85) and gave the stock an “overweight” rating in a research note on Monday. Jefferies Group reissued a “buy” rating and set a GBX 1,385 ($18.45) target price on shares of Ashtead Group plc in a research note on Thursday, September 1st. Deutsche Bank AG boosted their target price on Ashtead Group plc from GBX 700 ($9.32) to GBX 710 ($9.46) and gave the stock a “sell” rating in a research note on Friday, August 19th. BNP Paribas reissued a “neutral” rating and set a GBX 1,050 ($13.99) target price on shares of Ashtead Group plc in a research note on Monday, August 15th. Finally, HSBC boosted their target price on Ashtead Group plc from GBX 970 ($12.92) to GBX 1,225 ($16.32) and gave the stock a “hold” rating in a research note on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of GBX 1,175.38 ($15.66).
Ashtead Group plc is a United Kingdom-based equipment rental company with networks in the United States and the United Kingdom. The Company operates through two business units: Sunbelt, which provides pump and power, climate control and scaffolding service, and A-Plant business, which operates through Eve Trakway Limited (Eve), which constructs temporary roadways and barriers; PSS, which offers trenchless technology and fusion services, and FLG (lifting) services.
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