Ashtead Group (LON:AHT) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Ashtead Group plc (LON:AHT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 5,117.13 and traded as high as GBX 5,194. Ashtead Group shares last traded at GBX 5,028.35, with a volume of 1,457,840 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AHT shares. JPMorgan Chase & Co. restated a “no recommendation” rating on shares of Ashtead Group in a research report on Thursday, November 6th. Peel Hunt reissued a “hold” rating and set a GBX 5,000 price objective on shares of Ashtead Group in a research note on Monday, December 15th. Finally, Royal Bank Of Canada restated an “underperform” rating and issued a GBX 4,600 target price on shares of Ashtead Group in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ashtead Group presently has an average rating of “Reduce” and an average price target of GBX 5,075.

Ashtead Group Price Performance

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 company has a market capitalization of £21.46 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.32 and a beta of 1.22. The business’s fifty day moving average price is GBX 5,105.94 and its 200-day moving average price is GBX 5,117.13.

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. The company offers its products and services for facilities maintenance and municipalities, such as office complexes, apartment complexes, government, hospitals, data centers, parks and recreation departments, schools and universities, shopping centers, pavement/kerb repairs, and golf course maintenance; construction of airports, highways and bridges, office buildings, data centers, schools and universities, shopping centers, residential, remodeling, manufacturing plants, and green energy plants; emergency response for fire, hurricanes, flooding, tornadoes, winter, storms, residential and health emergencies, alternative care facilities, points of distribution, and mobile testing facilities; and entertainment and special events, including national events, concerts, sporting events, film and telvision production, theme parks, festivals farmers' markets, local 5k runs, and cycle races.