Ashtead Group PLC (OTCMKTS:ASHTY) Short Interest Update

Key Points

• Ashtead Group PLC experienced an 82.3% decline in short interest in September, with the total falling from 9,600 to 1,700 shares.
• The company reported $3.80 earnings per share for the recent quarter, missing estimates of $4.76 but generating revenue of $2.80 billion.
• Ashtead Group recently increased its dividend to $2.81, yielding 155.0%, marking a rise from the previous dividend of $1.44.

Ashtead Group PLC (OTCMKTS:ASHTY - Get Free Report) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 1,700 shares, a decline of 82.3% from the September 15th total of 9,600 shares. Based on an average trading volume of 26,900 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 26,900 shares, the days-to-cover ratio is currently 0.1 days.

Ashtead Group Stock Performance

Ashtead Group stock opened at $291.16 on Friday. The stock's 50 day simple moving average is $286.40 and its two-hundred day simple moving average is $254.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a market cap of $30.73 billion, a price-to-earnings ratio of 21.33 and a beta of 1.74. Ashtead Group has a fifty-two week low of $186.01 and a fifty-two week high of $337.95.

Ashtead Group (OTCMKTS:ASHTY - Get Free Report) last released its 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 net margin of 13.68% and a return on equity of 20.89%. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.79 billion. As a group, analysts expect that Ashtead Group will post 15.51 earnings per share for the current fiscal year.

Ashtead Group Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, September 25th. Investors of record on Monday, August 11th were paid a $2.81 dividend. This represents a yield of 155.0%. The ex-dividend date was Friday, August 8th. This is a positive change from Ashtead Group's previous dividend of $1.44. Ashtead Group's dividend payout ratio (DPR) is presently 41.25%.

Wall Street Analyst Weigh In

ASHTY has been the subject of several research reports. BNP Paribas upgraded Ashtead Group from an "underperform" rating to an "outperform" rating in a research note on Tuesday, September 16th. Jefferies Financial Group lowered shares of Ashtead Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 11th. Zacks Research cut Ashtead Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Royal Bank Of Canada lowered Ashtead Group from a "hold" rating to a "strong sell" rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ashtead Group presently has a consensus rating of "Hold".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.