Ashtead Group plc (OTCMKTS:ASHTY) Sees Significant Rise in Short Interest

Ashtead Group plc (OTCMKTS:ASHTY - Get Free Report) experienced a notable increase in short interest in March. On March 15th, short interest had risen to 4,900 shares, marking a staggering increase of 1,125.0% from the 400 shares reported on February 28th. At this time, only 0.0% of the company's shares are sold short. With an average daily trading volume of 83,800 shares, the current short-interest ratio stands at just 0.1 days.

Ashtead Group Stock Performance

During the midday trading session on Wednesday, shares of Ashtead Group (OTCMKTS: ASHTY) declined by $4.81, bringing the price down to $227.42. The trading volume for the day was reported at 9,673 shares, which is below the average of 32,729 shares. Financial metrics show a debt-to-equity ratio of 1.09, along with a quick ratio of 1.22 and a current ratio of 1.31. The fifty-day moving average price of Ashtead Group's stock is $251.09, while the 200-day moving average price is $278.95. Over the last 12 months, the stock has reached a low of $222.43 and a high of $337.95. The company boasts a market capitalization of $24.70 billion, a price-to-earnings (P/E) ratio of 16.12, and a P/E/G ratio of 1.49, with a beta value of 1.77.

Quarterly Earnings Results

Ashtead Group recently announced its quarterly earnings on March 4th, reporting earnings per share (EPS) of $3.09. This fell short of the consensus estimate of $3.47 by $0.38. The company recorded revenue of $2.38 billion for the quarter, exceeding the consensus estimate of $2.16 billion. Additionally, Ashtead Group reported a return on equity of 22.65% and a net margin of 14.78%. Analysts predict that the company will deliver an EPS of 15.51 for the current fiscal year.

Wall Street Analysts Provide Insight

Recent evaluations from various equities research analysts have brought some changes to Ashtead Group's ratings. On December 10th, The Goldman Sachs Group downgraded the stock from a "strong buy" to a "hold" rating. Meanwhile, on December 3rd, the Royal Bank of Canada upgraded Ashtead Group from a "hold" to a "moderate buy" rating. Furthermore, Morgan Stanley reiterated an "overweight" rating for the stock in a report on March 5th. Currently, one analyst has issued a hold rating, another a buy rating, and two analysts have assigned strong buy ratings, leading to an overall average rating of "Buy" for Ashtead Group.

About Ashtead Group

Ashtead Group plc operates through its subsidiaries in the equipment rental sector across the United States, the United Kingdom, and Canada. Its offerings include a range of construction, industrial, and general equipment such as pumps, power generation, heating and cooling systems, scaffolding, traffic management services, temporary flooring, trench shoring, and lifting services.

Investment Considerations

If you are considering investing in Ashtead Group, you may want to research further. Market analysts often compile lists of top-rated stocks that they recommend for investment, and currently, Ashtead Group does not appear to be among those top picks. While it has received a "Buy" rating, several analysts are suggesting other stocks that they believe offer better investment opportunities.

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