Short Interest in Ashtead Group PLC (OTCMKTS:ASHTY) Increases By 357.1%

Key Points

• Short interest in Ashtead Group PLC surged by 357.1% in September, increasing from 2,100 to 9,600 shares.
• Several analysts have downgraded their ratings for Ashtead Group, with the company receiving a consensus rating of "Hold."
• Ashtead Group announced a dividend increase to $2.81 per share from the previous $1.44, resulting in a significant yield of 155.0%.

Ashtead Group PLC (OTCMKTS:ASHTY - Get Free Report) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 9,600 shares, a growth of 357.1% from the August 31st total of 2,100 shares. Based on an average daily volume of 59,300 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 59,300 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Jefferies Financial Group cut Ashtead Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 11th. Royal Bank Of Canada cut Ashtead Group from a "hold" rating to a "strong sell" rating in a report on Friday, September 19th. Zacks Research cut Ashtead Group from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, BNP Paribas upgraded Ashtead Group from an "underperform" rating to an "outperform" rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold".

Ashtead Group Price Performance

Ashtead Group stock opened at $272.61 on Thursday. The business's 50-day simple moving average is $285.29 and its 200 day simple moving average is $251.18. The stock has a market cap of $28.83 billion, a price-to-earnings ratio of 19.97 and a beta of 1.75. Ashtead Group has a 12-month low of $186.01 and a 12-month high of $337.95. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 0.96.

Ashtead Group (OTCMKTS:ASHTY - Get Free Report) last posted 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). The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ashtead Group had a net margin of 13.68% and a return on equity of 20.89%. As a group, research analysts anticipate that Ashtead Group will post 15.51 earnings per share for the current year.

Ashtead Group Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, August 11th were paid a $2.81 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Ashtead Group's previous dividend of $1.44. This represents a yield of 155.0%. Ashtead Group's payout ratio is currently 41.25%.

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.

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