Ashtead Group plc (OTCMKTS:ASHTY) Short Interest Update

Ashtead Group plc (OTCMKTS:ASHTY - Get Free Report) experienced a significant rise in short interest during March. As of March 15, the total short interest reached 4,900 shares, marking an impressive increase of 1,125.0% from the 400 shares reported on February 28. Currently, 0.0% of the company’s outstanding shares are sold short. Given an average daily trading volume of 83,800 shares, the days-to-cover ratio stands at 0.1 days.

Ashtead Group has been active in the market, as reflected in its trading activity. On a recent Wednesday, shares of ASHTY traded down by $4.81, reaching a price of $227.42. The trading volume for that day was 9,673 shares, compared to an average daily volume of 32,729 shares. The company maintains a debt-to-equity ratio of 1.09, a quick ratio of 1.22, and a current ratio of 1.31. The fifty-day and 200-day moving averages for its stock price are $251.09 and $278.95, respectively. Over the past year, Ashtead Group has seen a low of $222.43 and a high of $337.95. The company's market capitalization currently stands at $24.70 billion, with a price-to-earnings (P/E) ratio of 16.12 and a P/E growth ratio of 1.49.

Ashtead Group recently declared its quarterly earnings results on March 4, revealing that the company earned $3.09 per share (EPS) for the quarter. This figure was below the consensus estimate of $3.47 by $0.38. During the quarter, the company reported revenues of $2.38 billion, exceeding the consensus estimate of $2.16 billion. The return on equity for Ashtead Group was 22.65%, while the net margin was 14.78%. Sell-side analysts predict that Ashtead Group will achieve an EPS of 15.51 for the current fiscal year.

Wall Street Analysts Forecast Growth

Recent analysis from various equities research firms has provided insights on ASHTY shares. Notably, The Goldman Sachs Group downgraded Ashtead Group from a "strong-buy" rating to a "hold" rating in a research note dated December 10. Conversely, the Royal Bank of Canada upgraded Ashtead Group from a "hold" to a "moderate buy" rating on December 3. Morgan Stanley reaffirmed an "overweight" rating on the shares in a report published on March 5. Presently, one analyst has given the stock a hold rating, another has issued a buy rating, and two have assigned a strong buy rating, leading to an average rating of "Buy" from MarketBeat data.

About Ashtead Group

Ashtead Group plc, along with its subsidiaries, operates in the construction, industrial, and general equipment rental sectors within the United States, the United Kingdom, and Canada. The company specializes in providing various equipment such as pumps, power generation, heating and cooling systems, scaffolding, traffic management solutions, temporary flooring, trench shoring, and lifting services.

Ashtead, Stocks, Market