Ashtead Group plc Short Interest Update

Ashtead Group plc (OTCMKTS:ASHTY) has seen a significant rise in short interest during March. As of March 15th, short interest reached a total of 4,900 shares, reflecting an enormous increase of 1,125.0% from the previous month’s total of 400 shares. Very few of the company's shares, approximately 0.0%, are currently sold short. Given the average daily trading volume of 83,800 shares, the short-interest ratio stands at just 0.1 days.

Ashtead Group Stock Performance

On Wednesday, during midday trading, Ashtead Group's stock (OTCMKTS: ASHTY) decreased by $4.81, bringing the price down to $227.42. The trading volume for the day was 9,673 shares, notably lower than the average volume of 32,729. The company’s debt-to-equity ratio is recorded at 1.09, with a quick ratio of 1.22 and a current ratio of 1.31. Over the past fifty days, the moving average price has been $251.09, while the 200-day moving average price is $278.95. The company’s stock has experienced a 1-year low at $222.43 and a 1-year high of $337.95. The overall market capitalization of Ashtead Group is $24.70 billion, and its price-to-earnings (P/E) ratio is 16.12 with a P/E growth (P/E/G) ratio of 1.49, plus a beta of 1.77.

Recently, Ashtead Group announced its quarterly earnings results on March 4th. The company reported earnings per share (EPS) of $3.09 for the quarter, which was below analyst expectations that forecasted EPS at $3.47—indicating a shortfall of $0.38. During the quarter, the company achieved revenue of $2.38 billion, surpassing the consensus estimate of $2.16 billion. Additionally, Ashtead Group's return on equity stood at 22.65%, with a net margin of 14.78%. Analysts predict that for the current fiscal year, Ashtead Group will achieve an EPS of 15.51.

Wall Street Analysts Forecast Growth

A number of research analysts have recently provided insights regarding Ashtead Group shares. Goldman Sachs Group downgraded the stock from a "strong-buy" to a "hold" rating in a research note published on December 10th. Conversely, Royal Bank of Canada upgraded Ashtead Group from a "hold" to a "moderate buy" rating on December 3rd. Meanwhile, Morgan Stanley maintained an "overweight" rating for the stock in a report issued on March 5th. In summary, one analyst has rated the stock as holding, another as a buy, and two have given it a strong buy rating. Currently, the average analyst rating for Ashtead Group stands at "Buy."

About Ashtead Group

Ashtead Group plc is engaged in the construction, industrial, and general equipment rental business, operating in the United States, the United Kingdom, and Canada. The company offers a diverse range of services including pumps, power generation, heating and cooling equipment, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.

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