Time to Reconsider Ashtead Group plc After Reaching 52-Week High?

 Time to Reconsider Ashtead Group plc After Reaching 52 Week High?

The stock of Ashtead Group plc (LON:AHT) hit a new 52-week high and has GBX 2036.11 target or 47.00% above today’s GBX 1385.11 share price. The 9 months bullish chart indicates low risk for the GBX 6.91B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the GBX 2036.11 price target is reached, the company will be worth GBX 3.25B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 11.52% or GBX 143.11 on November 9, hitting GBX 1385.11. About 9.65M shares traded hands or 346.76% up from the average. Ashtead Group plc (LON:AHT) has risen 69.52% since April 12, 2016 and is uptrending. It has outperformed by 64.74% the S&P500.

Ashtead Group plc (LON:AHT) Ratings Coverage

Out of 19 analysts covering Ashtead Group PLC (LON:AHT), 13 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 68% are positive. GBX 1580 is the highest target while GBX 660 is the lowest. The GBX 1303.67 average target is -5.88% below today’s (GBX 1385.11) stock price. Ashtead Group PLC has been the topic of 127 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Numis Securities given on Wednesday, June 15. The rating was maintained by Jefferies on Thursday, October 22 with “Buy”. Deutsche Bank maintained the shares of AHT in a report on Friday, April 22 with “Sell” rating. BNP Paribas maintained it with “Outperform” rating and GBX 1300 target price in Thursday, July 23 report. Credit Suisse downgraded the shares of AHT in a report on Wednesday, March 9 to “Underperform” rating. The firm has “Outperform” rating given on Monday, August 3 by BNP Paribas. As per Wednesday, December 16, the company rating was maintained by BNP Paribas. The stock of Ashtead Group plc (LON:AHT) earned “Buy” rating by Beaufort Securities on Thursday, September 3. Investec maintained Ashtead Group plc (LON:AHT) on Wednesday, September 2 with “Buy” rating. Credit Suisse maintained the stock with “Outperform” rating in Monday, November 30 report.

More important recent Ashtead Group plc (LON:AHT) news were published by: Fool.Co.Uk which released: “Will Ashtead Group plc, Fresnillo plc and Glencore plc continue to rise?” on June 21, 2016, also Fool.Co.Uk published article titled: “The future is looking brighter for Ashtead Group plc, Barclays plc and …”, Fool.Co.Uk published: “3 undervalued growth plays: Barclays plc, Ashtead Group plc & Vp plc” on June 16, 2016. More interesting news about Ashtead Group plc (LON:AHT) was released by: Fool.Co.Uk and their article: “Should you buy Ted Baker plc, Ashtead Group plc and Crest Nicholson Holdings …” with publication date: June 14, 2016.

Ashtead Group plc is an equipment rental company. The company has a market cap of 6.91 billion GBP. The Firm rents a range of construction and industrial equipment across a range of applications to a diverse customer base. It has a 16.48 P/E ratio. The Company’s divisions include Sunbelt and A-Plant.

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