Short Interest in Ashtead Group plc (OTCMKTS:ASHTY) Decreases By 89.5%

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

Ashtead Group Stock Performance

Shares of ASHTY traded down $2.69 during trading hours on Wednesday, reaching $227.06. 114,367 shares of the company traded hands, compared to its average volume of 32,482. The stock’s fifty day moving average is $254.34 and its 200 day moving average is $282.60. Ashtead Group has a 1-year low of $223.72 and a 1-year 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 issued its earnings results on Tuesday, March 4th. The company reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.38). The company 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%. Equities research analysts anticipate that Ashtead Group will post 15.51 earnings per share for the current fiscal year.

Ashtead Group Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, February 24th. Investors 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 19.97%.

Analyst Ratings Changes

ASHTY has been the subject of several research reports. Royal Bank of Canada upgraded shares of Ashtead Group from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley reissued an “overweight” rating on shares of Ashtead Group in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently 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.