Ashtead Group plc (OTCMKTS:ASHTY) Short Interest Down 89.5% in February

Ashtead Group plc (OTCMKTS:ASHTY) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 400 shares, a decrease of 89.5% from the February 13th total of 3,800 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 25,400 shares, the days-to-cover ratio is presently 0.0 days.

Ashtead Group Stock Performance

OTCMKTS ASHTY traded down $2.69 on Wednesday, reaching $227.06. The stock had a trading volume of 114,367 shares, compared to its average volume of 32,482. The business’s 50-day moving average price is $254.34 and its 200 day moving average price is $282.60. Ashtead Group has a 12-month low of $223.72 and a 12-month high of $337.95. The stock has a market cap of $24.70 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.49 and a beta of 1.77. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.22 and a current ratio of 1.31.

Ashtead Group (OTCMKTS:ASHTY) last released its earnings results on Tuesday, March 4th. The company reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.38). The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.16 billion. Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. As a group, equities analysts expect that Ashtead Group will post 15.51 earnings per share for the current year.

Ashtead Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, February 24th. Shareholders of record on Friday, January 10th were issued a dividend of $1.44 per share. The ex-dividend date of this dividend was Friday, January 10th. Ashtead Group’s payout ratio is presently 19.97%.

Analysts Set New Price Targets

Several research firms have weighed in on ASHTY. Royal Bank of Canada raised Ashtead Group from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group downgraded shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley restated an “overweight” rating on shares of Ashtead Group in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Ashtead Group Company Profile

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.