Ashtead Group (LON:AHT) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Ashtead Group plc (LON:AHT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 4,549.08 ($62.10) and traded as high as GBX 4,853 ($66.25). Ashtead Group shares last traded at GBX 4,799 ($65.52), with a volume of 833,063 shares.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada downgraded Ashtead Group to a “sector perform” rating and decreased their price target for the stock from GBX 6,750 ($92.15) to GBX 4,125 ($56.31) in a report on Tuesday, April 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,345 ($86.62).

Ashtead Group Price Performance

The company has a 50-day simple moving average of GBX 4,318.77 and a 200-day simple moving average of GBX 4,549.08. The stock has a market cap of £26.20 billion, a PE ratio of 17.08, a PEG ratio of 1.32 and a beta of 1.22. The company has a debt-to-equity ratio of 146.30, a current ratio of 1.31 and a quick ratio of 1.13.

Insider Transactions at Ashtead Group

In other Ashtead Group news, insider Renata Ribeiro acquired 150 shares of the business’s stock in a transaction on Friday, April 11th. The stock was purchased at an average price of GBX 3,932 ($53.68) per share, for a total transaction of £5,898 ($8,051.88). Insiders own 0.64% of the company’s stock.

About Ashtead Group

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.