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

Ashtead Group PLC (OTCMKTS:ASHTY) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 9,600 shares, a growth of 357.1% from the August 31st total of 2,100 shares. Based on an average daily trading volume, of 59,300 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 59,300 shares, the days-to-cover ratio is presently 0.2 days.

Ashtead Group Trading Up 2.1%

Shares of OTCMKTS ASHTY opened at $274.88 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market capitalization of $29.07 billion, a P/E ratio of 20.14 and a beta of 1.74. Ashtead Group has a 1-year low of $186.01 and a 1-year high of $337.95. The business has a fifty day moving average price of $285.06 and a 200 day moving average price of $251.62.

Ashtead Group (OTCMKTS:ASHTY) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $3.80 earnings per share for the quarter, missing analysts’ consensus estimates of $4.76 by ($0.96). The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Ashtead Group had a return on equity of 20.89% and a net margin of 13.68%. Equities research analysts expect that Ashtead Group will post 15.51 EPS for the current fiscal year.

Ashtead Group Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, September 25th. Investors of record on Monday, August 11th were paid a dividend of $2.81 per share. This is an increase from Ashtead Group’s previous dividend of $1.44. The ex-dividend date was Friday, August 8th. This represents a dividend yield of 155.0%. Ashtead Group’s dividend payout ratio (DPR) is currently 41.25%.

Analysts Set New Price Targets

ASHTY has been the subject of several research reports. Zacks Research cut Ashtead Group from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Royal Bank Of Canada cut Ashtead Group from a “hold” rating to a “strong sell” rating in a report on Friday, September 19th. Jefferies Financial Group cut Ashtead Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 11th. Finally, BNP Paribas upgraded Ashtead Group from an “underperform” rating to an “outperform” rating in a report on Tuesday, September 16th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold”.

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.