Short Interest in Ashtead Group plc (OTCMKTS:ASHTY) Declines By 85.5%

Ashtead Group plc (OTCMKTS:ASHTY) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 3,100 shares, a drop of 85.5% from the January 15th total of 21,400 shares. Based on an average trading volume of 47,000 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada raised shares of Ashtead Group from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lowered Ashtead Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Ashtead Group Stock Performance

OTCMKTS ASHTY traded down $1.04 during trading hours on Thursday, hitting $254.22. 7,369 shares of the company’s stock traded hands, compared to its average volume of 39,715. Ashtead Group has a 52 week low of $235.29 and a 52 week high of $337.95. The firm has a market capitalization of $27.71 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.54 and a beta of 1.69. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 1.09. The business’s fifty day moving average price is $262.44 and its two-hundred day moving average price is $286.06.

Ashtead Group (OTCMKTS:ASHTY) last released its earnings results on Tuesday, December 10th. The company reported $4.64 EPS for the quarter, missing analysts’ consensus estimates of $4.96 by ($0.32). Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. Equities research analysts predict that Ashtead Group will post 15.51 EPS for the current year.

Ashtead Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $1.44 per share. The ex-dividend date is Friday, January 10th. Ashtead Group’s payout ratio is currently 19.70%.

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.