Ashtead Group (OTCMKTS:ASHTY) Sets New 1-Year Low – Here’s Why

Ashtead Group plc (OTCMKTS:ASHTY) reached a new 52-week low during trading on Thursday . The stock traded as low as $222.43 and last traded at $222.98, with a volume of 14357 shares traded. The stock had previously closed at $226.55.

Analyst Upgrades and Downgrades

Several research analysts have commented on ASHTY shares. The Goldman Sachs Group lowered shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada raised shares of Ashtead Group from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Ashtead Group in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy”.

Ashtead Group Price Performance

The stock has a market capitalization of $25.00 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.49 and a beta of 1.77. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average price is $253.26 and its 200-day moving average price is $281.44.

Ashtead Group (OTCMKTS:ASHTY) last released its quarterly earnings data on Tuesday, March 4th. The company reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.38). Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.16 billion. As a group, equities analysts forecast that Ashtead Group plc will post 15.51 EPS for the current year.

Ashtead Group Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Monday, February 24th. Investors of record on Friday, January 10th were paid a $1.44 dividend. The ex-dividend date of this dividend was Friday, January 10th. Ashtead Group’s dividend payout ratio (DPR) is presently 19.97%.

Ashtead Group Company Profile

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.