Ashtead Group (OTCMKTS:ASHTY) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Ashtead Group (OTCMKTS:ASHTY) from a hold rating to a moderate buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Separately, Berenberg Bank raised Ashtead Group to a “strong-buy” rating in a report on Thursday, September 19th.

Ashtead Group Trading Up 0.4 %

Shares of OTCMKTS ASHTY opened at $328.99 on Tuesday. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.64. The stock’s 50 day simple moving average is $314.01 and its 200 day simple moving average is $292.97. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08. Ashtead Group has a 12-month low of $241.94 and a 12-month high of $337.95.

Ashtead Group (OTCMKTS:ASHTY) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $3.88 earnings per share (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 company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.74 billion. Equities research analysts expect that Ashtead Group will post 15.38 EPS for the current 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.