Ashtead Group (OTCMKTS:ASHTY) Hits New 1-Year High – Time to Buy?

Shares of Ashtead Group plc (OTCMKTS:ASHTY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $329.31 and last traded at $328.63, with a volume of 10550 shares changing hands. The stock had previously closed at $314.10.

Analysts Set New Price Targets

Several equities research analysts have commented on ASHTY shares. Berenberg Bank upgraded Ashtead Group to a “strong-buy” rating in a research note on Thursday, September 19th. Barclays upgraded Ashtead Group to a “strong-buy” rating in a report on Thursday, August 1st.

Ashtead Group Stock Performance

The stock’s 50 day moving average price is $299.31 and its 200 day moving average price is $288.96. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08. The firm has a market cap of $36.00 billion, a PE ratio of 23.24, a P/E/G ratio of 1.75 and a beta of 1.64.

Ashtead Group (OTCMKTS:ASHTY) last issued its earnings results on Tuesday, September 3rd. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.85 by $0.03. Ashtead Group had a return on equity of 23.60% and a net margin of 14.94%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.74 billion. As a group, equities analysts forecast that Ashtead Group plc will post 15.6 earnings per share for the current fiscal year.

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.