Ashtead Group plc (AHT) Sets New 52-Week High on Better-Than-Expected Earnings

Ashtead Group plc (LON:AHT) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as GBX 1,828 ($23.61) and last traded at GBX 1,759 ($22.72), with a volume of 2,830,574 shares traded. The stock had previously closed at GBX 1,684 ($21.75).

The company reported GBX 31.50 ($0.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of GBX 30.10 ($0.39) by GBX 1.40 ($0.02). Ashtead Group plc had a return on equity of 24.78% and a net margin of 14.47%. The business had revenue of £828.80 million during the quarter.

A number of equities research analysts have recently weighed in on the company. Beaufort Securities reaffirmed a “buy” rating on shares of Ashtead Group plc in a research note on Wednesday, June 14th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 1,800 ($23.25) price objective on shares of Ashtead Group plc in a research note on Thursday, August 17th. Liberum Capital reaffirmed a “buy” rating and issued a GBX 1,940 ($25.05) price objective on shares of Ashtead Group plc in a research note on Tuesday, June 13th. Barclays PLC lifted their price objective on Ashtead Group plc from GBX 1,837 ($23.72) to GBX 1,867 ($24.11) and gave the company an “overweight” rating in a research note on Wednesday, June 14th. Finally, Numis Securities Ltd reaffirmed an “add” rating and issued a GBX 1,750 ($22.60) price objective on shares of Ashtead Group plc in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of GBX 1,747.25 ($22.57).

In related news, insider Geoffrey Drabble sold 111,314 shares of Ashtead Group plc stock in a transaction on Monday, June 19th. The stock was sold at an average price of GBX 1,622 ($20.95), for a total value of £1,805,513.08 ($2,331,800.44).

The firm’s market capitalization is GBX 7.80 billion. The stock has a 50 day moving average price of GBX 1,636.16 and a 200 day moving average price of GBX 1,626.91.

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About Ashtead Group plc

Ashtead Group plc is an equipment rental company. The Company rents a range of construction and industrial equipment across a range of applications to a diverse customer base. The Company’s segments include Sunbelt and A-Plant. The Company operates in the United States, the United Kingdom and Canada.

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