Royal Bank Of Canada Downgrades Ashtead Technology (LON:AT) to Sector perform

Ashtead Technology (LON:AT) was downgraded by equities research analysts at Royal Bank Of Canada to a “sector perform” rating in a note issued to investors on Thursday, Digital Look reports. They presently have a GBX 400 target price on the stock, down from their previous target price of GBX 560. Royal Bank Of Canada’s price objective points to a potential upside of 17.65% from the company’s current price.

A number of other equities research analysts also recently weighed in on AT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 650 target price on shares of Ashtead Technology in a research note on Wednesday. Berenberg Bank decreased their price target on shares of Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating on the stock in a report on Friday, August 21st. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 605.

Ashtead Technology Price Performance

Shares of LON AT opened at GBX 340 on Thursday. The stock’s 50-day simple moving average is GBX 410.14 and its two-hundred day simple moving average is GBX 434.78. Ashtead Technology has a twelve month low of GBX 426 and a twelve month high of GBX 893. The firm has a market capitalization of £269.64 million, a P/E ratio of 10.98 and a beta of 0.41. The company has a quick ratio of 1.46, a current ratio of 2.21 and a debt-to-equity ratio of 73.72.

Ashtead Technology (LON:AT) last issued its quarterly earnings results on Tuesday, September 1st. The company reported GBX 20.60 earnings per share (EPS) for the quarter. Ashtead Technology had a return on equity of 19.41% and a net margin of 15.56%. As a group, equities analysts anticipate that Ashtead Technology will post 42.8247734 EPS for the current fiscal year.

Ashtead Technology Company Profile

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. The company 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. It also provides mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and diver tooling, intervention skids, topside support, recovery tools, ancillary deck equipment, and fabrication solutions.