Berenberg Bank Boosts Ashtead Technology (LON:AT) Price Target to GBX 775

Ashtead Technology (LON:AT) had its target price lifted by Berenberg Bank from GBX 700 ($8.71) to GBX 775 ($9.65) in a report released on Tuesday morning, MarketBeat reports. Berenberg Bank currently has a buy rating on the stock.

Ashtead Technology Price Performance

Shares of AT stock opened at GBX 742 ($9.24) on Tuesday. The firm has a market cap of £593.23 million, a P/E ratio of 3,500.00 and a beta of 0.32. The company has a debt-to-equity ratio of 38.53, a quick ratio of 1.46 and a current ratio of 1.56. The business’s 50 day moving average price is GBX 727.02 and its 200-day moving average price is GBX 609.97. Ashtead Technology has a fifty-two week low of GBX 310 ($3.86) and a fifty-two week high of GBX 791 ($9.85).

Ashtead Technology Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be paid a dividend of GBX 1.10 ($0.01) per share. This is a boost from Ashtead Technology’s previous dividend of $1.00. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a yield of 0.15%. Ashtead Technology’s payout ratio is presently 476.19%.

Insider Buying and Selling at Ashtead Technology

In other Ashtead Technology news, insider William(Bill) Mervyn FrewCarey Shannon bought 3,015 shares of Ashtead Technology stock in a transaction on Tuesday, April 16th. The stock was acquired at an average price of GBX 660 ($8.22) per share, with a total value of £19,899 ($24,771.57). 2.96% of the stock is owned by company insiders.

Ashtead Technology Company Profile

Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East. It offers survey and robotics equipment comprising geophysical, hydrographic, metocean, land surveying, positioning, ROV sensors, non-destructive testing, subsea inspection, remote visual inspection, and environmental products; mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and driver tooling, intervention skids, topside support, recovery tools, pumps, reels, ancillary deck equipment, and fabrication solutions; and asset integrity solutions, including imaging and inspection, oceanographic, marine growth removal, monitoring, mooring and riser inspection, environmental monitoring, offshore construction and life of asset monitoring, offshore wind foundation inspection, analysis, 3D imaging and metrology, and remote operations.