Ashtead Technology (LON:AT) Stock Price Down 4.9% – Should You Sell?

Ashtead Technology Holdings Plc (LON:AT) shares were down 4.9% during mid-day trading on Thursday . The company traded as low as GBX 412 and last traded at GBX 422.50. 347,681 shares were traded during mid-day trading, The stock had previously closed at GBX 444.50.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 560 target price on shares of Ashtead Technology in a research report on Thursday, July 16th. Berenberg Bank reissued a “buy” rating and issued a GBX 700 price objective on shares of Ashtead Technology in a research note on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ashtead Technology presently has a consensus rating of “Buy” and an average price target of GBX 646.25.

Ashtead Technology Price Performance

The stock has a market capitalization of £333.09 million, a PE ratio of 13.56 and a beta of 0.41. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 78.29. The stock’s 50-day moving average is GBX 429.86 and its 200 day moving average is GBX 437.69.

Insider Activity

In related news, insider Jean Cahuzac bought 9,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of GBX 423 per share, with a total value of £40,185. 3.28% of the stock is owned by company insiders.

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.