The Goldman Sachs Group Downgrades Ashtead Group (OTCMKTS:ASHTY) to Hold

Ashtead Group (OTCMKTS:ASHTY) was downgraded by equities researchers at The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on ASHTY. Berenberg Bank upgraded shares of Ashtead Group to a “strong-buy” rating in a research report on Thursday, September 19th. 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.

Ashtead Group Trading Down 2.6 %

Shares of ASHTY opened at $267.41 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.17. The company has a market cap of $29.23 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.94 and a beta of 1.64. The stock has a fifty day moving average price of $312.81 and a two-hundred day moving average price of $292.87. Ashtead Group has a 52-week low of $241.94 and a 52-week high of $337.95.

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.