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

Ashtead Group plc (OTCMKTS:ASHTY) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 32,000 shares, an increase of 6,300.0% from the October 31st total of 500 shares. Based on an average daily trading volume, of 83,200 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ASHTY shares. Barclays upgraded 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 research note on Thursday, September 19th.

Ashtead Group Trading Down 0.9 %

ASHTY stock traded down $2.96 during trading on Wednesday, hitting $322.07. 15,968 shares of the company traded hands, compared to its average volume of 30,530. Ashtead Group has a 1 year low of $240.01 and a 1 year high of $337.95. The firm has a market capitalization of $35.21 billion, a PE ratio of 21.70, a P/E/G ratio of 1.91 and a beta of 1.64. The company has a 50-day moving average of $310.85 and a 200-day moving average of $291.75. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.17.

Ashtead Group (OTCMKTS:ASHTY) last announced its quarterly earnings data 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 firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.74 billion. Analysts predict that Ashtead Group will post 15.38 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.