Ashtead Group (OTCMKTS:ASHTY) Hits New 52-Week Low – Here’s Why

Ashtead Group plc (OTCMKTS:ASHTY)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $222.43 and last traded at $222.98, with a volume of 14357 shares changing hands. The stock had previously closed at $226.55.

Analyst Ratings Changes

Several research firms recently commented on ASHTY. Royal Bank of Canada raised Ashtead Group from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group cut shares of Ashtead Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley restated an “overweight” rating on shares of Ashtead Group in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Ashtead Group has a consensus rating of “Buy”.

Ashtead Group Stock Performance

The company has a market cap of $24.24 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.49 and a beta of 1.77. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $253.98 and a two-hundred day simple moving average of $282.21.

Ashtead Group (OTCMKTS:ASHTY) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.47 by ($0.38). The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.16 billion. Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. On average, sell-side analysts anticipate that Ashtead Group plc will post 15.51 EPS for the current year.

Ashtead Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, February 24th. Stockholders of record on Friday, January 10th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Friday, January 10th. Ashtead Group’s dividend payout ratio is presently 19.97%.

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.