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

Ashtead Group plc (OTCMKTS:ASHTY) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 3,100 shares, a decline of 85.5% from the January 15th total of 21,400 shares. Based on an average trading volume of 47,000 shares, the short-interest ratio is presently 0.1 days.

Ashtead Group Price Performance

Shares of ASHTY traded up $1.04 during midday trading on Friday, hitting $255.26. The company’s stock had a trading volume of 6,978 shares, compared to its average volume of 39,715. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. Ashtead Group has a one year low of $235.29 and a one year high of $337.95. The stock has a market capitalization of $27.83 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.69. The company’s fifty day simple moving average is $262.44 and its two-hundred day simple moving average is $286.06.

Ashtead Group (OTCMKTS:ASHTY) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $4.64 earnings per share for the quarter, missing analysts’ consensus estimates of $4.96 by ($0.32). Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. As a group, equities analysts expect that Ashtead Group will post 15.51 earnings per share for the current fiscal year.

Ashtead Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 10th will be paid a $1.44 dividend. The ex-dividend date is Friday, January 10th. Ashtead Group’s dividend payout ratio is currently 19.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ASHTY. Royal Bank of Canada upgraded Ashtead Group from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lowered Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

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.