Ashtead Group (OTCMKTS:ASHTY) Lowered to Hold Rating by Royal Bank of Canada

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

Separately, Morgan Stanley reaffirmed an "overweight" rating on shares of Ashtead Group in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy".

Ashtead Group Trading Up 2.6 %

ASHTY traded up $5.61 during trading on Tuesday, hitting $220.64. 9,282 shares of the stock traded hands, compared to its average volume of 45,587. The firm has a market capitalization of $23.82 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.49 and a beta of 1.69. Ashtead Group has a 12-month low of $186.01 and a 12-month high of $337.95. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.31 and a quick ratio of 1.22. The firm has a 50-day moving average of $223.73 and a 200 day moving average of $261.67.

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

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.