Ashtead Group plc (OTCMKTS:ASHTY) Short Interest Update

Ashtead Group plc (OTCMKTS:ASHTY - Get Free Report) experienced a significant rise in short interest in March. As of March 15, the total short interest reached 4,900 shares, marking an astounding increase of 1,125.0% from the 400 shares reported on February 28. Currently, a negligible 0.0% of the company's shares are sold short. Based on an average daily trading volume of 83,800 shares, the short-interest ratio stands at merely 0.1 days.

Ashtead Group Stock Performance

During midday trading on Wednesday, Ashtead Group's shares (OTCMKTS ASHTY) fell by $4.81, bringing the price down to $227.42. The trading volume for the day was 9,673 shares, which is significantly lower than the average volume of 32,729 shares. The company maintains a debt-to-equity ratio of 1.09, a quick ratio of 1.22, and a current ratio of 1.31. In addition, Ashtead Group has a fifty-day moving average price of $251.09 and a 200-day moving average price of $278.95. The stock has seen a one-year low of $222.43 and a high of $337.95. With a market capitalization of $24.70 billion, the firm has a P/E ratio of 16.12, a P/E/G ratio of 1.49, and a beta of 1.77.

Recent Earnings Report

Ashtead Group announced its quarterly earnings results on March 4. The company reported earnings per share (EPS) of $3.09 for the quarter, falling short of the consensus estimate of $3.47 by $0.38. Revenue for the quarter was $2.38 billion, exceeding the consensus estimate of $2.16 billion. The firm demonstrated a return on equity of 22.65% and a net margin of 14.78%. Analysts predict that Ashtead Group will post an EPS of 15.51 for the current fiscal year.

Wall Street Analysts' Views

Equity research analysts have recently provided updates on ASHTY shares. The Goldman Sachs Group downgraded Ashtead Group from a "strong-buy" rating to a "hold" rating on December 10. Conversely, Royal Bank of Canada upgraded their rating from "hold" to "moderate buy" on December 3. Additionally, Morgan Stanley reiterated an "overweight" rating for the shares on March 5. Currently, one analyst has rated the stock with a hold rating, one with a buy rating, and two have given it a strong buy rating. According to MarketBeat data, Ashtead Group holds an average rating of "Buy."

About Ashtead Group

Ashtead Group plc operates in the construction, industrial, and general equipment rental sectors across the United States, United Kingdom, and Canada. Their offerings include pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.

Conclusion

The recent growth in short interest for Ashtead Group plc prompts market watchers to consider the implications for future trading and investment opportunities in the stock. Overall, while the outlook may have uncertainties, understanding these market signals can guide decision-making strategies for potential investors.

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