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

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

Ashtead Technology Price Performance

Shares of AT opened at GBX 742 ($9.24) on Tuesday. Ashtead Technology has a fifty-two week low of GBX 310 ($3.86) and a fifty-two week high of GBX 791 ($9.85). 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 company has a market capitalization of £593.23 million, a P/E ratio of 3,500.00 and a beta of 0.32. The business’s 50-day moving average is GBX 727.02 and its two-hundred day moving average is GBX 609.97.

Ashtead Technology Increases Dividend

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

Insider Buying and Selling

In other news, insider William(Bill) Mervyn FrewCarey Shannon acquired 3,015 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were bought at an average cost of GBX 660 ($8.22) per share, for a total transaction of £19,899 ($24,771.57). 2.96% of the stock is currently owned by insiders.

About Ashtead Technology

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.