Ashtead Group plc (OTCMKTS:ASHTY) Short Interest Update

Ashtead Group plc (OTCMKTS:ASHTY - Get Free Report) experienced a significant rise in short interest throughout March. As of March 15th, the short interest reached 4,900 shares, reflecting a staggering increase of 1,125.0% from the 400 shares reported on February 28th. Currently, only 0.0% of the company's shares are sold short. Given the average daily trading volume of 83,800 shares, the short-interest ratio stands at just 0.1 days.

Ashtead Group Stock Performance

During midday trading on Wednesday, Ashtead Group's stock (OTCMKTS: ASHTY) fell by $4.81, bringing the price down to $227.42. The trading volume was recorded at 9,673 shares, which is lower than the average volume of 32,729 shares. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.22, and a current ratio of 1.31. The fifty-day moving average price for the stock is $251.09, while the 200-day moving average price is $278.95. Over the past year, Ashtead Group has seen a low of $222.43 and a high of $337.95. The company currently boasts a market capitalization of $24.70 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.49, and a beta of 1.77.

Recent Earnings Announcement

Ashtead Group recently released its quarterly earnings results on March 4th. The company reported earnings per share (EPS) of $3.09 for the quarter, which was lower than the consensus estimate of $3.47 by $0.38. Additionally, the company's revenue for the quarter was $2.38 billion, surpassing the consensus estimate of $2.16 billion. The return on equity stood at 22.65%, while the net margin was reported at 14.78%. Analysts predict that Ashtead Group will achieve an EPS of 15.51 for the current fiscal year.

Wall Street Analysts’ Recommendations

Several analysts have provided their insights on Ashtead Group's shares lately. The Goldman Sachs Group downgraded the stock from a "strong-buy" to a "hold" rating in a report released on December 10th. Meanwhile, Royal Bank of Canada upgraded Ashtead Group from a "hold" to a "moderate buy" rating earlier in December. Additionally, Morgan Stanley maintained an "overweight" rating on the stock as of March 5th. Currently, one analyst rates the stock as a hold, one as a buy, and two analysts have given it a strong buy rating. Data from MarketBeat indicates that Ashtead Group has an average rating of "Buy" from analysts.

About Ashtead Group

Ashtead Group plc, along with its subsidiaries, is involved in the construction, industrial, and general equipment rental sectors across the United States, the United Kingdom, and Canada. The company offers a range of services, including pump rentals, power generation, heating and cooling solutions, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.

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