Jefferies Financial Group Reiterates Buy Rating for Ashtead Group (LON:AHT)

Jefferies Financial Group reaffirmed their buy rating on shares of Ashtead Group (LON:AHT) in a research note released on Monday morning, Marketbeat reports. The brokerage currently has a GBX 6,800 ($85.49) price objective on the stock.

A number of other research firms also recently issued reports on AHT. Berenberg Bank reiterated a “buy” rating and set a GBX 7,000 ($88.01) price objective on shares of Ashtead Group in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 6,500 ($81.72) target price on shares of Ashtead Group in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price target on Ashtead Group from GBX 6,600 ($82.98) to GBX 7,300 ($91.78) and gave the company an “overweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 6,550 ($82.35).

Ashtead Group Stock Performance

AHT stock opened at GBX 5,168.53 ($64.98) on Monday. Ashtead Group has a 1-year low of GBX 4,711 ($59.23) and a 1-year high of GBX 6,448 ($81.07). The business has a 50-day moving average price of GBX 5,963.32 and a 200 day moving average price of GBX 5,590.42. The company has a market capitalization of £22.57 billion, a P/E ratio of 1,950.39, a PEG ratio of 1.32 and a beta of 1.22. The company has a debt-to-equity ratio of 145.75, a current ratio of 1.17 and a quick ratio of 1.13.

Ashtead Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, February 7th. Shareholders of record on Thursday, January 9th will be issued a $0.36 dividend. This represents a yield of 0.45%. The ex-dividend date of this dividend is Thursday, January 9th. Ashtead Group’s dividend payout ratio is currently 3,018.87%.

Insider Transactions at Ashtead Group

In related news, insider Brendan Horgan bought 4,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of GBX 5,320 ($66.88) per share, for a total transaction of £212,800 ($267,538.35). Also, insider Lucinda Riches sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of GBX 5,880 ($73.93), for a total transaction of £58,800 ($73,925.07). Insiders own 0.64% of the company’s stock.

Ashtead Group Company Profile

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.