Ashtead Group plc (OTCMKTS:ASHTY) Short Interest Down 72.2% in August

Ashtead Group plc (OTCMKTS:ASHTY) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 500 shares, a decrease of 72.2% from the August 15th total of 1,800 shares. Based on an average trading volume of 9,700 shares, the short-interest ratio is currently 0.1 days.

Ashtead Group Stock Performance

ASHTY stock traded up $3.21 during trading hours on Friday, reaching $282.14. The stock had a trading volume of 5,807 shares, compared to its average volume of 13,476. The stock has a 50-day simple moving average of $276.70 and a 200 day simple moving average of $282.88. Ashtead Group has a fifty-two week low of $221.86 and a fifty-two week high of $316.06. The stock has a market capitalization of $30.84 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.61 and a beta of 1.63. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.36 and a quick ratio of 1.24.

Ashtead Group (OTCMKTS:ASHTY) last posted its quarterly earnings results on Tuesday, June 18th. The company reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.02). Ashtead Group had a return on equity of 24.56% and a net margin of 14.94%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.35 billion. Analysts predict that Ashtead Group will post 15.61 EPS for the current fiscal year.

Ashtead Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 9th will be issued a $3.52 dividend. This is an increase from Ashtead Group’s previous dividend of $0.58. The ex-dividend date is Friday, August 9th. Ashtead Group’s payout ratio is currently 48.29%.

Wall Street Analysts Forecast Growth

Separately, Barclays raised Ashtead Group to a “strong-buy” rating in a research report on Thursday, August 1st.

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.