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

Ashtead Group plc (OTCMKTS:ASHTY) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 1,100 shares, a growth of 120.0% from the August 31st total of 500 shares. Based on an average daily trading volume, of 39,800 shares, the days-to-cover ratio is currently 0.0 days.

Ashtead Group Price Performance

Shares of OTCMKTS ASHTY traded up $1.68 during trading hours on Thursday, hitting $304.40. 8,796 shares of the stock were exchanged, compared to its average volume of 13,145. Ashtead Group has a 1-year low of $221.86 and a 1-year high of $316.06. The company has a market cap of $33.28 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.63. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.17. The company’s fifty day simple moving average is $281.07 and its two-hundred day simple moving average is $284.06.

Ashtead Group (OTCMKTS:ASHTY) last issued 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 return on equity of 23.60% and a net margin of 14.94%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.74 billion. On average, sell-side analysts predict that Ashtead Group will post 15.61 EPS for the current year.

Ashtead Group Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 9th were given a $3.52 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Ashtead Group’s previous dividend of $0.58. Ashtead Group’s payout ratio is currently 47.81%.

Analyst Ratings Changes

ASHTY has been the topic of a number of analyst reports. Barclays raised shares of Ashtead Group to a “strong-buy” rating in a report on Thursday, August 1st. Berenberg Bank upgraded Ashtead Group to a “strong-buy” rating in a research note on Thursday, September 19th.

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.