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

Ashtead Group plc (OTCMKTS:ASHTY) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 32,000 shares, a growth of 6,300.0% from the October 31st total of 500 shares. Based on an average daily trading volume, of 83,200 shares, the short-interest ratio is currently 0.4 days.

Analysts Set New Price Targets

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

Ashtead Group Price Performance

Shares of Ashtead Group stock traded down $2.96 during trading hours on Wednesday, reaching $322.07. The company’s stock had a trading volume of 15,968 shares, compared to its average volume of 30,530. The firm has a 50 day moving average price of $310.85 and a 200-day moving average price of $291.75. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 1.08. The stock has a market cap of $35.21 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.91 and a beta of 1.64. Ashtead Group has a one year low of $240.01 and a one year high of $337.95.

Ashtead Group (OTCMKTS:ASHTY) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $3.88 earnings per share for the quarter, topping 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 analysts’ expectations of $2.74 billion. On average, analysts predict that Ashtead Group will post 15.38 EPS for the current year.

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.