Ashtead Technology (LON:AT) Posts Quarterly Earnings Results

Ashtead Technology (LON:AT) issued its earnings results on Tuesday. The company reported GBX 20.60 EPS for the quarter, Digital Look Earnings reports. Ashtead Technology had a net margin of 15.85% and a return on equity of 21.84%.

Ashtead Technology Stock Down 3.6%

LON AT traded down GBX 12.50 on Wednesday, reaching GBX 333. The company had a trading volume of 825,652 shares. The company’s fifty day moving average is GBX 412.58 and its 200-day moving average is GBX 435.50. The firm has a market capitalization of £264.09 million, a price-to-earnings ratio of 10.75 and a beta of 0.41. The company has a debt-to-equity ratio of 78.29, a quick ratio of 1.46 and a current ratio of 2.25. Ashtead Technology has a 1-year low of GBX 426 and a 1-year high of GBX 893.

Analysts Set New Price Targets

A number of brokerages recently commented on AT. Berenberg Bank decreased their price objective on Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating for the company in a research note on Friday, August 21st. Royal Bank Of Canada restated an “outperform” rating and set a GBX 560 target price on shares of Ashtead Technology in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 650 target price on shares of Ashtead Technology in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ashtead Technology has a consensus rating of “Buy” and an average target price of GBX 637.

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.