Ashtead Group (LON:AHT) Issues Quarterly Earnings Results

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

Ashtead Group Stock Performance

Shares of LON AHT traded up GBX 49 ($0.63) during midday trading on Thursday, hitting GBX 4,575 ($58.97). 253,861,109 shares of the company’s stock were exchanged, compared to its average volume of 6,686,131. Ashtead Group has a twelve month low of GBX 4,384.89 ($56.52) and a twelve month high of GBX 6,448 ($83.11). The firm has a market cap of £24.98 billion, a P/E ratio of 16.28, a PEG ratio of 1.32 and a beta of 1.22. The stock’s 50 day moving average price is GBX 5,043.83 and its 200-day moving average price is GBX 5,455.24. The company has a debt-to-equity ratio of 146.30, a current ratio of 1.31 and a quick ratio of 1.13.

Ashtead Group Cuts Dividend

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

Insider Activity at Ashtead Group

In related news, insider Brendan Horgan acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost of GBX 5,320 ($68.57) per share, for a total transaction of £212,800 ($274,297.50). 0.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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