Ashtead Group PLC (OTCMKTS:ASHTY) Short Interest Update

Key Points

• Ashtead Group PLC saw a dramatic decline in short interest of 90.0% in August, with total short interest falling to 2,100 shares from 21,000 shares.
• The company's stock decreased by 0.4% to $294.12, with a market capitalization of $31.19 billion, and a price-to-earnings ratio of 21.55.
• Ashtead Group announced an increased dividend of $2.81 per share, representing a yield of 155.0%, to be paid on September 25th to investors of record as of August 11th.

Ashtead Group PLC (OTCMKTS:ASHTY - Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 2,100 shares, a decline of 90.0% from the August 15th total of 21,000 shares. Based on an average daily trading volume, of 18,600 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company's shares are sold short. Approximately 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 18,600 shares, the short-interest ratio is currently 0.1 days.

Ashtead Group Price Performance

OTCMKTS:ASHTY traded up $1.74 during trading hours on Tuesday, hitting $296.74. 17,926 shares of the company's stock traded hands, compared to its average volume of 35,680. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.98. The business's fifty day simple moving average is $280.99 and its two-hundred day simple moving average is $247.94. Ashtead Group has a 52 week low of $186.01 and a 52 week high of $337.95. The firm has a market cap of $31.44 billion, a P/E ratio of 21.74 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 the consensus estimate of $4.76 by ($0.96). Ashtead Group had a return on equity of 20.94% and a net margin of 13.68%.The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. On average, research analysts anticipate that Ashtead Group will post 15.51 earnings per share for the current fiscal year.

Ashtead Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, August 11th will be issued a $2.81 dividend. This is an increase from Ashtead Group's previous dividend of $1.44. This represents a dividend yield of 155.0%. The ex-dividend date is Friday, August 8th. Ashtead Group's dividend payout ratio (DPR) is presently 41.25%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ASHTY shares. Jefferies Financial Group lowered Ashtead Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 11th. BNP Paribas raised Ashtead Group from an "underperform" rating to an "outperform" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy".

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.