Morgan Stanley Lowers Ashtead Group (LON:AHT) to Equal weight

Morgan Stanley cut shares of Ashtead Group (LON:AHT) to an equal weight rating in a report issued on Wednesday, ThisIsMoney.Co.Uk reports.

AHT has been the subject of several other research reports. Royal Bank of Canada lifted their price target on from GBX 2,400 ($31.36) to GBX 2,800 ($36.59) and gave the stock an outperform rating in a research report on Monday, June 24th. Deutsche Bank lowered their price target on from GBX 295 ($3.85) to GBX 285 ($3.72) and set a buy rating for the company in a research report on Wednesday, June 19th. Jefferies Financial Group reissued a hold rating on shares of COMPASS GRP PLC/S in a research report on Tuesday, April 9th. Peel Hunt reissued a buy rating on shares of GB Group in a research report on Monday, June 17th. Finally, Liberum Capital boosted their target price on Sylvania Platinum from GBX 35 ($0.46) to GBX 68 ($0.89) and gave the stock a buy rating in a research report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of GBX 2,388.18 ($31.21).

AHT opened at GBX 2,258 ($29.50) on Wednesday. The stock has a 50-day moving average of GBX 2,085.60. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 134.18. The stock has a market cap of $10.51 billion and a price-to-earnings ratio of 13.65. Ashtead Group has a 1 year low of GBX 1,572.50 ($20.55) and a 1 year high of GBX 2,461 ($32.16).

The firm also recently announced a dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be given a GBX 33.50 ($0.44) dividend. This is a positive change from Ashtead Group’s previous dividend of $6.50. The ex-dividend date is Thursday, August 15th. This represents a yield of 1.61%. Ashtead Group’s payout ratio is 0.24%.

In other news, insider Paul Walker purchased 14,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was acquired at an average cost of GBX 2,163 ($28.26) per share, for a total transaction of £302,820 ($395,687.97). Also, insider Brendan Horgan sold 46,792 shares of the business’s stock in a transaction dated Thursday, July 4th. The shares were sold at an average price of GBX 2,320 ($30.31), for a total value of £1,085,574.40 ($1,418,495.23).

About Ashtead Group

Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It offers equipment for use in lifting, powering, generation, moving, digging, compacting, drilling, supporting, scrubbing, pumping, directing, heating, and ventilating works. The company provides various types of construction equipment for non-residential construction markets; and facilities management equipment for the maintenance and repair of facilities.

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Analyst Recommendations for Ashtead Group (LON:AHT)

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