Short Interest in Ashtead Group plc (OTCMKTS:ASHTY) Drops By 93.3%

Ashtead Group plc (OTCMKTS:ASHTY) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 200 shares, a decline of 93.3% from the November 30th total of 3,000 shares. Based on an average daily volume of 42,100 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

ASHTY has been the subject of a number of recent analyst reports. The Goldman Sachs Group downgraded Ashtead Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Royal Bank of Canada raised Ashtead Group from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 3rd. Finally, Berenberg Bank upgraded Ashtead Group to a “strong-buy” rating in a research report on Thursday, September 19th.

Ashtead Group Stock Down 0.4 %

Shares of ASHTY traded down $3.85 during midday trading on Thursday, reaching $251.37. The stock had a trading volume of 10,611 shares, compared to its average volume of 15,572. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 1.08. Ashtead Group has a 1-year low of $241.94 and a 1-year high of $337.95. The company has a market cap of $27.48 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.72 and a beta of 1.64. The company’s fifty day simple moving average is $304.68 and its two-hundred day simple moving average is $290.78.

Ashtead Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $1.44 per share. The ex-dividend date is Friday, January 10th. Ashtead Group’s payout ratio is currently 19.70%.

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.