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The latest update is out from Ashtead ( (GB:AHT) ).
Ashtead Group PLC, a company involved in equipment rental services, announced the repurchase of 86,947 of its ordinary shares at an average price of 5,127.9965 pence each as part of its $1.5 billion share buyback program. This transaction, executed by J.P. Morgan Securities plc, reduces the number of shares in issue to 420,473,012, excluding treasury shares, and reflects Ashtead’s ongoing efforts to manage its capital structure and return value to shareholders.
The most recent analyst rating on (GB:AHT) stock is a Buy with a £66.00 price target. To see the full list of analyst forecasts on Ashtead stock, see the GB:AHT Stock Forecast page.
Spark’s Take on GB:AHT Stock
According to Spark, TipRanks’ AI Analyst, GB:AHT is a Outperform.
Ashtead’s overall stock score reflects strong financial performance and positive earnings call guidance, which are the most significant factors. The technical analysis presents mixed signals, with short-term bearish momentum but longer-term bullish trends. Valuation is fair, with a reasonable P/E ratio and modest dividend yield. Operational challenges noted in the earnings call could impact future performance, but the company’s strategic initiatives and market expansion efforts are promising.
To see Spark’s full report on GB:AHT stock, click here.
More about Ashtead
Average Trading Volume: 839,493
Technical Sentiment Signal: Strong Buy
Current Market Cap: £21.55B
Find detailed analytics on AHT stock on TipRanks’ Stock Analysis page.