Ashtead Group (OTCMKTS:ASHTY) Upgraded at Barclays

Barclays upgraded shares of Ashtead Group (OTCMKTS:ASHTY) to a strong-buy rating in a report issued on Thursday morning, Zacks.com reports.

Ashtead Group Price Performance

OTCMKTS:ASHTY opened at $270.52 on Thursday. The firm has a market capitalization of $29.57 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.61 and a beta of 1.63. The company has a quick ratio of 1.24, a current ratio of 1.36 and a debt-to-equity ratio of 1.24. Ashtead Group has a 12-month low of $221.86 and a 12-month high of $316.06. The stock’s 50 day moving average price is $279.74 and its two-hundred day moving average price is $280.95.

Ashtead Group (OTCMKTS:ASHTY) last announced its earnings results on Tuesday, June 18th. The company reported $3.15 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.02). The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.35 billion. Ashtead Group had a return on equity of 25.53% and a net margin of 15.61%. On average, analysts anticipate that Ashtead Group will post 15.67 earnings per share for the current year.

Ashtead Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 9th will be paid a dividend of $3.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Ashtead Group’s previous dividend of $0.58. Ashtead Group’s dividend payout ratio (DPR) is 7.89%.

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.