Royal Bank of Canada Downgrades Ashtead Group (OTCMKTS:ASHTY) to Hold

Ashtead Group (OTCMKTS:ASHTY) was downgraded by stock analysts at Royal Bank of Canada from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Morgan Stanley reiterated an “overweight” rating on shares of Ashtead Group in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ashtead Group presently has a consensus rating of “Buy”.

Ashtead Group Price Performance

Shares of ASHTY opened at $215.14 on Tuesday. Ashtead Group has a 12-month low of $186.01 and a 12-month high of $337.95. The business has a 50-day simple moving average of $224.71 and a two-hundred day simple moving average of $263.21. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. The stock has a market cap of $23.25 billion, a PE ratio of 15.25, a PEG ratio of 1.49 and a beta of 1.69.

Ashtead Group (OTCMKTS:ASHTY) last issued its earnings results on Tuesday, March 4th. The company reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.38). Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.16 billion. Analysts anticipate that Ashtead Group will post 15.51 earnings per share for the current fiscal 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.