Ashtead Group plc (OTCMKTS:ASHTY) Sees Large Decline in Short Interest

by · The Markets Daily

Ashtead Group plc (OTCMKTS:ASHTY – Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 100 shares, a drop of 85.7% from the September 30th total of 700 shares. Based on an average trading volume of 12,000 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ASHTY shares. Berenberg Bank upgraded shares of Ashtead Group to a “strong-buy” rating in a research note on Thursday, September 19th. Barclays upgraded shares of Ashtead Group to a “strong-buy” rating in a research report on Thursday, August 1st.

Read Our Latest Report on ASHTY

Ashtead Group Price Performance

Shares of ASHTY stock traded up $3.00 on Friday, hitting $310.50. 9,716 shares of the stock traded hands, compared to its average volume of 12,497. The firm has a market cap of $33.95 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 1.78 and a beta of 1.64. Ashtead Group has a 52 week low of $221.86 and a 52 week high of $316.06. The firm has a 50 day simple moving average of $293.93 and a two-hundred day simple moving average of $287.73. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 1.08.

Ashtead Group (OTCMKTS:ASHTY – Get Free Report) last released 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 business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.74 billion. As a group, equities research analysts predict that Ashtead Group will post 15.61 earnings per share for the current fiscal year.

About Ashtead Group

(Get Free Report)

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.

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