Royal Bank of Canada Downgrades Ashtead Group (OTCMKTS:ASHTY) to Hold

Ashtead Group (OTCMKTS:ASHTY - Get Free Report) was downgraded by equities research analysts at Royal Bank of Canada from a "moderate buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Morgan Stanley reissued an "overweight" rating on shares of Ashtead Group in a report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy".

Ashtead Group Trading Up 2.6 %

Ashtead Group stock traded up $5.61 during mid-day trading on Tuesday, hitting $220.64. The company's stock had a trading volume of 9,282 shares, compared to its average volume of 45,587. The stock has a market cap of $23.82 billion, a PE ratio of 15.64, a P/E/G ratio of 1.49 and a beta of 1.69. Ashtead Group has a one year low of $186.01 and a one year high of $337.95. The company has a 50 day moving average of $223.73 and a 200-day moving average of $262.01. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.22 and a current ratio of 1.31.

Ashtead Group (OTCMKTS:ASHTY - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.47 by ($0.38). Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.16 billion. On average, research analysts anticipate that Ashtead Group will post 15.51 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.