Short Interest in Ashtead Group plc (OTCMKTS:ASHTY) Grows By 50.0%

Ashtead Group plc (OTCMKTS:ASHTY) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 300 shares, a growth of 50.0% from the December 15th total of 200 shares. Based on an average daily trading volume, of 88,000 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Berenberg Bank upgraded 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 report on Tuesday, December 3rd. Finally, 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.

Ashtead Group Stock Performance

Shares of ASHTY traded up $8.43 during midday trading on Thursday, hitting $255.93. 12,614 shares of the stock traded hands, compared to its average volume of 31,797. Ashtead Group has a 1-year low of $235.29 and a 1-year high of $337.95. The business’s 50 day moving average price is $286.36 and its two-hundred day moving average price is $287.27. The firm has a market capitalization of $27.95 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.57 and a beta of 1.69. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.22 and a current ratio of 1.31.

Ashtead Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 10th will be given a $1.44 dividend. The ex-dividend date is Friday, January 10th. Ashtead Group’s dividend payout ratio is currently 49.40%.

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.