Ashtead Group (LON:AHT) Shares Pass Above 200-Day Moving Average - Here's Why

Ashtead Group plc (LON:AHT - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 4,728.26 ($63.17) and traded as high as GBX 5,474 ($73.13). Ashtead Group shares last traded at GBX 5,430 ($72.55), with a volume of 711,129 shares.Get Ashtead Group alerts:Analyst Upgrades and DowngradesAHT has been the topic of a number of research analyst reports. Jefferies Financial Group cut Ashtead Group to a "hold" rating and cut their target price for the stock from GBX 5,900 to GBX 5,700 in a research report on Thursday, September 11th. UBS Group reiterated a "neutral" rating and set a GBX 5,000 target price on shares of Ashtead Group in a research report on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of GBX 5,825.View Our Latest Report on Ashtead GroupAshtead Group Trading Down 3.4%The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 146.30. The business has a 50 day moving average of GBX 5,287.51 and a 200-day moving average of GBX 4,728.26. The stock has a market cap of £22.14 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. Ashtead Group Company Profile (Get Free Report)Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.See AlsoFive stocks we like better than Ashtead GroupWhy Invest in 5G? How to Invest in 5G Stocks Archer’s Recent String of Victories Signals a New Phase of GrowthValue Investing: Is it a Good Strategy in 2022? Hint: Always3 Key Stocks Boosting Buybacks Amid Improving FundamentalsWhat Does Downgrade Mean in Investing?The Best AI for Picking Stocks, Ranked by PerformanceThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Ashtead Group Right Now?Before you consider Ashtead Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ashtead Group wasn't on the list.While Ashtead Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here