Short Interest in Ashtead Group PLC (OTCMKTS:ASHTY) Rises By 37.3%

Key Points

• Short interest in Ashtead Group PLC has increased by 37.3%, rising from 15,300 shares to 21,000 shares as of August 15th.
• The company reported earnings per share of $3.80 in its latest quarterly results, missing the consensus estimate of $4.76.
• Ashtead Group has announced a dividend increase to $2.81 per share, representing a yield of 155.0%, up from the previous dividend of $1.44.

Ashtead Group PLC (OTCMKTS:ASHTY - Get Free Report) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 21,000 shares, a growth of 37.3% from the July 31st total of 15,300 shares. Based on an average trading volume of 25,600 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 25,600 shares, the short-interest ratio is presently 0.8 days.

Ashtead Group Price Performance

Shares of Ashtead Group stock traded down $2.99 during mid-day trading on Friday, reaching $292.62. 28,900 shares of the stock were exchanged, compared to its average volume of 18,542. The company has a market cap of $31.03 billion, a price-to-earnings ratio of 21.44 and a beta of 1.73. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.98. The firm has a 50-day simple moving average of $280.33 and a 200 day simple moving average of $247.49. 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 announced its 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). The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. Ashtead Group had a return on equity of 20.94% and a net margin of 13.68%. On average, sell-side analysts predict that Ashtead Group will post 15.51 EPS for the current fiscal year.

Ashtead Group Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, August 11th will be given a dividend of $2.81 per share. This is an increase from Ashtead Group's previous dividend of $1.44. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 155.0%. Ashtead Group's dividend payout ratio is 41.25%.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded shares of Ashtead Group from a "strong-buy" rating to a "hold" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently 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.