Morgan Stanley Lowers Ashtead Group (LON:AHT) to Equal weight

Morgan Stanley lowered shares of Ashtead Group (LON:AHT) to an equal weight rating in a research note released on Wednesday, ThisIsMoney.Co.Uk reports.

AHT has been the subject of several other reports. Numis Securities restated a buy rating and issued a GBX 2,800 ($36.59) price target on shares of in a research note on Thursday, June 13th. Deutsche Bank dropped their price target on from GBX 295 ($3.85) to GBX 285 ($3.72) and set a buy rating for the company in a research note on Wednesday, June 19th. Liberum Capital upped their price target on Sylvania Platinum from GBX 35 ($0.46) to GBX 68 ($0.89) and gave the stock a buy rating in a research note on Thursday, April 18th. Jefferies Financial Group restated a hold rating on shares of COMPASS GRP PLC/S in a research note on Tuesday, April 9th. Finally, Barclays reaffirmed a top pick rating and set a GBX 3,250 ($42.47) price objective on shares of in a report on Wednesday, June 19th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of GBX 2,388.18 ($31.21).

AHT stock opened at GBX 2,258 ($29.50) on Wednesday. Ashtead Group has a 1-year low of GBX 1,572.50 ($20.55) and a 1-year high of GBX 2,461 ($32.16). The company has a quick ratio of 1.27, a current ratio of 1.39 and a debt-to-equity ratio of 134.18. The company has a market cap of $10.51 billion and a P/E ratio of 13.65. The business has a 50 day simple moving average of GBX 2,085.60.

The company also recently disclosed a dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be issued a dividend of GBX 33.50 ($0.44) per share. This represents a dividend yield of 1.61%. This is a boost from Ashtead Group’s previous dividend of $6.50. The ex-dividend date of this dividend is Thursday, August 15th. Ashtead Group’s dividend payout ratio is 0.24%.

In other news, insider Brendan Horgan sold 46,792 shares of the company’s stock in a transaction that occurred on Thursday, July 4th. The stock was sold at an average price of GBX 2,320 ($30.31), for a total transaction of £1,085,574.40 ($1,418,495.23). Also, insider Lindsley Ruth acquired 2,250 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were purchased at an average cost of GBX 2,202 ($28.77) per share, for a total transaction of £49,545 ($64,739.32).

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.

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Analyst Recommendations for Ashtead Group (LON:AHT)

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