Ashtead Group (LON:AHT) Issues Earnings Results

Ashtead Group (LON:AHT) released its quarterly earnings results on Tuesday. The company reported GBX 77.20 ($1.00) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Ashtead Group had a return on equity of 21.43% and a net margin of 14.08%.

Ashtead Group Stock Up 0.7 %

LON AHT traded up GBX 31.22 ($0.40) during trading on Thursday, reaching GBX 4,557.22 ($58.74). 7,872,545 shares of the company’s stock were exchanged, compared to its average volume of 1,338,554. The company’s fifty day simple moving average is GBX 5,043.83 and its 200-day simple moving average is GBX 5,455.24. The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 146.30. The firm has a market capitalization of £24.88 billion, a PE ratio of 16.22, a P/E/G ratio of 1.32 and a beta of 1.22. Ashtead Group has a fifty-two week low of GBX 4,384.89 ($56.52) and a fifty-two week high of GBX 6,448 ($83.11).

Ashtead Group Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, February 7th. Investors of record on Thursday, January 9th were paid a $0.36 dividend. This represents a yield of 0.45%. The ex-dividend date was Thursday, January 9th. Ashtead Group’s dividend payout ratio is currently 28.47%.

Insider Buying and Selling at Ashtead Group

In related news, insider Brendan Horgan acquired 4,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of GBX 5,320 ($68.57) per share, with a total value of £212,800 ($274,297.50). Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

AHT has been the subject of a number of research reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 7,000 ($90.23) price target on shares of Ashtead Group in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their target price on shares of Ashtead Group from GBX 6,600 ($85.07) to GBX 7,300 ($94.10) and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,800 ($87.65) price target on shares of Ashtead Group in a report on Monday, December 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,550 ($84.43).

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.