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

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

Ashtead Group Stock Up 1.7 %

Shares of ASHTY traded up $4.38 during midday trading on Wednesday, hitting $255.26. The stock had a trading volume of 11,607 shares, compared to its average volume of 39,715. The firm has a market cap of $27.83 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.69. The company has a 50 day simple moving average of $263.91 and a two-hundred day simple moving average of $286.28. Ashtead Group has a twelve month low of $235.29 and a twelve month high of $337.95. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.31 and a quick ratio of 1.22.

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

Ashtead Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, February 24th. Investors of record on Friday, January 10th will be given a $1.44 dividend. The ex-dividend date is Friday, January 10th. Ashtead Group’s dividend payout ratio (DPR) is currently 19.70%.

Analyst Ratings Changes

Several research firms have recently weighed in on ASHTY. Royal Bank of Canada upgraded Ashtead Group from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group lowered shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

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.