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

Ashtead Group plc (OTCMKTS:ASHTY) was the recipient of a significant drop in short interest in 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 daily trading volume, of 12,000 shares, the short-interest ratio is presently 0.0 days.

Analyst Ratings Changes

Several research firms have issued reports on ASHTY. Barclays raised Ashtead Group to a “strong-buy” rating in a report on Thursday, August 1st. Berenberg Bank raised Ashtead Group to a “strong-buy” rating in a research report on Thursday, September 19th.

Ashtead Group Price Performance

ASHTY stock opened at $305.40 on Friday. Ashtead Group has a one year low of $221.86 and a one year high of $316.06. The firm has a 50-day moving average of $294.55 and a two-hundred day moving average of $287.82. The firm has a market capitalization of $33.39 billion, a PE ratio of 20.95, a P/E/G ratio of 1.78 and a beta of 1.64. 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 (OTCMKTS:ASHTY) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.74 billion. On average, analysts forecast that Ashtead Group will post 15.61 earnings per share for the current year.

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.