Ashtead Technology (LON:AT) Posts Quarterly Earnings Results

Ashtead Technology (LON:AT) posted its quarterly earnings results on Tuesday. The company reported GBX 20.60 earnings per share 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 Price Performance

AT stock traded down GBX 12.50 during mid-day trading on Wednesday, hitting GBX 333. 825,652 shares of the stock were exchanged. The company has a debt-to-equity ratio of 78.29, a current ratio of 2.25 and a quick ratio of 1.46. The business has a fifty day moving average price of GBX 412.58 and a 200 day moving average price of GBX 435.50. Ashtead Technology has a 12 month low of GBX 426 and a 12 month high of GBX 893. The stock has a market capitalization of £264.09 million, a price-to-earnings ratio of 10.75 and a beta of 0.41.

Wall Street Analyst Weigh In

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

About Ashtead Technology

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.