Ashtead Group (AHT) Hits New 1-Year Low on Analyst Downgrade

Ashtead Group plc (LON:AHT) shares hit a new 52-week low on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from GBX 2,600 to GBX 2,300. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ashtead Group traded as low as GBX 1,660.50 ($21.70) and last traded at GBX 1,672.50 ($21.85), with a volume of 2180737 shares. The stock had previously closed at GBX 1,776 ($23.21).

Several other brokerages have also recently weighed in on AHT. Numis Securities restated a “buy” rating on shares of Ashtead Group in a report on Wednesday, September 12th. Berenberg Bank restated a “hold” rating and set a GBX 2,150 ($28.09) target price on shares of Ashtead Group in a report on Tuesday, September 11th. Liberum Capital restated a “buy” rating on shares of Ashtead Group in a report on Tuesday, September 11th. Peel Hunt restated a “buy” rating on shares of Ashtead Group in a report on Tuesday, September 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 2,750 ($35.93) target price on shares of Ashtead Group in a report on Tuesday, September 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of GBX 2,347.33 ($30.67).

In other Ashtead Group news, insider Ian Sutcliffe acquired 13,933 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were purchased at an average cost of GBX 1,794 ($23.44) per share, for a total transaction of £249,958.02 ($326,614.43).

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Ashtead Group Company Profile (LON:AHT)

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.

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