Ashtead Group plc (OTCMKTS:ASHTY) Sees Significant Decline in Short Interest

Ashtead Group plc (OTCMKTS:ASHTY) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 700 shares, a decline of 36.4% from the September 15th total of 1,100 shares. Based on an average daily trading volume, of 14,000 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Several equities research analysts have issued reports on ASHTY shares. Barclays raised shares of Ashtead Group to a “strong-buy” rating in a report on Thursday, August 1st. Berenberg Bank raised shares of Ashtead Group to a “strong-buy” rating in a report on Thursday, September 19th.

Ashtead Group Stock Down 0.4 %

Shares of OTCMKTS:ASHTY opened at $301.02 on Friday. Ashtead Group has a 52 week low of $221.86 and a 52 week high of $316.06. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.17. The company’s fifty day moving average is $286.42 and its 200-day moving average is $286.45. The company has a market capitalization of $32.91 billion, a PE ratio of 21.24, a P/E/G ratio of 1.78 and a beta of 1.64.

Ashtead Group (OTCMKTS:ASHTY) last issued its earnings results on Tuesday, September 3rd. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.85 by $0.03. Ashtead Group had a net margin of 14.94% and a return on equity of 23.60%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.74 billion. Equities research analysts predict that Ashtead Group will post 15.61 earnings per share for the current fiscal year.

About Ashtead Group

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.