Ashtead Group (OTCMKTS:ASHTY) Reaches New 1-Year Low – Here’s What Happened

Ashtead Group plc (OTCMKTS:ASHTY) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $241.88 and last traded at $242.14, with a volume of 30102 shares. The stock had previously closed at $244.50.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. 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. Finally, Berenberg Bank upgraded Ashtead Group to a “strong-buy” rating in a report on Thursday, September 19th.

Ashtead Group Trading Down 1.0 %

The business’s 50-day simple moving average is $298.73 and its two-hundred day simple moving average is $289.34. The firm has a market capitalization of $26.47 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.72 and a beta of 1.64. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 1.08.

Ashtead Group Cuts Dividend

The company also recently declared 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 dividend payout ratio (DPR) is 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.