Ashtead Group (LON:AHT) Lifted to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Ashtead Group (LON:AHT) to an overweight rating in a research note published on Monday morning, Stock Target Advisor reports. The firm currently has GBX 3,000 ($39.46) target price on the stock, up from their previous target price of GBX 2,420 ($31.83).

Several other research analysts also recently weighed in on the stock. Liberum Capital lowered their price objective on shares of Ashtead Group from GBX 2,678 ($35.23) to GBX 2,616 ($34.41) and set a buy rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. restated an overweight rating and set a GBX 2,450 ($32.23) price objective on shares of Ashtead Group in a report on Tuesday, November 12th. HSBC restated a hold rating on shares of Ashtead Group in a report on Monday, January 13th. Peel Hunt restated a buy rating on shares of Ashtead Group in a report on Monday, December 9th. Finally, Barclays upped their price objective on shares of Ashtead Group from GBX 2,430 ($31.97) to GBX 3,195 ($42.03) and gave the stock an overweight rating in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of GBX 2,585 ($34.00).

AHT opened at GBX 2,539 ($33.40) on Monday. The company has a current ratio of 1.22, a quick ratio of 1.12 and a debt-to-equity ratio of 181.56. The company’s fifty day moving average price is GBX 2,417.12 and its two-hundred day moving average price is GBX 2,293.19. Ashtead Group has a 1-year low of GBX 1,744 ($22.94) and a 1-year high of GBX 2,559 ($33.66). The company has a market cap of $11.66 billion and a price-to-earnings ratio of 14.39.

The company also recently announced a dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Thursday, January 16th will be paid a GBX 7.15 ($0.09) dividend. The ex-dividend date is Thursday, January 16th. This represents a dividend yield of 0.32%. Ashtead Group’s payout ratio is 0.23%.

About Ashtead Group

Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It offers equipment for use in lifting, powering, generation, moving, digging, compacting, drilling, supporting, scrubbing, pumping, directing, heating, and ventilating works. The company provides various types of construction equipment for non-residential construction markets; and facilities management equipment for the maintenance and repair of facilities.

Further Reading: Risk Tolerance

Analyst Recommendations for Ashtead Group (LON:AHT)

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