Ashtead Group (OTCMKTS:ASHTY) Lowered to Hold Rating by Jefferies Financial Group

Key Points

• Jefferies Financial Group downgraded Ashtead Group from a "strong-buy" rating to a "hold" rating, indicating a more cautious outlook on the stock.
• Ashtead Group reported $3.80 EPS for the last quarter, which fell short of analysts' expectations of $4.76 by $0.96.
• The company's stock opened at $292.62, with a 12-month range between $186.01 and $337.95, reflecting volatility in its market performance.

Ashtead Group (OTCMKTS:ASHTY - Get Free Report) was downgraded by equities researchers at Jefferies Financial Group from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

Ashtead Group Stock Down 1.0%

Shares of OTCMKTS:ASHTY opened at $292.62 on Thursday. The stock's 50-day moving average price is $280.33 and its two-hundred day moving average price is $247.49. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.98. Ashtead Group has a 12-month low of $186.01 and a 12-month high of $337.95. The firm has a market cap of $31.03 billion, a price-to-earnings ratio of 21.44 and a beta of 1.73.

Ashtead Group (OTCMKTS:ASHTY - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported $3.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.76 by ($0.96). Ashtead Group had a return on equity of 20.94% and a net margin of 13.68%.The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.79 billion. On average, research analysts forecast 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.

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