Ashtead Group (OTCMKTS:ASHTY) Share Price Passes Below 50 Day Moving Average – Here’s Why

Ashtead Group plc (OTCMKTS:ASHTY)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $274.93 and traded as low as $264.31. Ashtead Group shares last traded at $325.13, with a volume of 17,002 shares trading hands.

Wall Street Analysts Forecast Growth

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

Ashtead Group Price Performance

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 company has a market capitalization of $35.47 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.74 and a beta of 1.69. The firm’s 50 day simple moving average is $274.93 and its 200 day simple moving average is $287.33.

Ashtead Group (OTCMKTS:ASHTY) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $4.64 EPS for the quarter, missing the consensus estimate of $4.96 by ($0.32). Ashtead Group had a net margin of 14.78% and a return on equity of 22.65%. As a group, research analysts anticipate that Ashtead Group plc will post 14.56 EPS for the current fiscal year.

Ashtead Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 10th will be given a $1.44 dividend. The ex-dividend date of this dividend is Friday, January 10th. Ashtead Group’s dividend payout ratio (DPR) is presently 19.70%.

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.