Ashtead Group (OTCMKTS:ASHTY) Hits New 1-Year Low – Here’s What Happened

Ashtead Group plc (OTCMKTS:ASHTY)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $240.56 and last traded at $243.56, with a volume of 308948 shares trading hands. The stock had previously closed at $245.71.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ASHTY shares. Berenberg Bank raised Ashtead Group to a “strong-buy” rating in a report on Thursday, September 19th. Royal Bank of Canada upgraded shares of Ashtead Group from a “hold” rating to a “moderate buy” rating in a research note 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 Price Performance

The firm has a 50-day moving average of $290.42 and a 200-day moving average of $287.73. 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 firm has a market capitalization of $26.60 billion, a P/E ratio of 17.26, a PEG ratio of 1.72 and a beta of 1.69.

Ashtead Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, February 24th. Investors of record on Friday, January 10th will be given a dividend of $1.44 per share. The ex-dividend date of this dividend is Friday, January 10th. Ashtead Group’s dividend payout ratio (DPR) is presently 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.