Short Interest in Ashtead Group plc (OTCMKTS:ASHTY) Increases By 400.0%

Ashtead Group plc (OTCMKTS:ASHTY) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 500 shares, an increase of 400.0% from the October 15th total of 100 shares. Based on an average daily volume of 12,900 shares, the days-to-cover ratio is presently 0.0 days.

Ashtead Group Price Performance

Shares of ASHTY stock opened at $325.63 on Thursday. Ashtead Group has a fifty-two week low of $235.59 and a fifty-two week high of $337.95. 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 $35.60 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.90 and a beta of 1.64. The stock’s 50-day simple moving average is $303.03 and its 200-day simple moving average is $289.97.

Ashtead Group (OTCMKTS:ASHTY) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.85 by $0.03. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Ashtead Group had a net margin of 14.94% and a return on equity of 23.60%. As a group, equities analysts forecast that Ashtead Group will post 15.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ASHTY has been the subject of a number of analyst reports. Berenberg Bank raised shares of Ashtead Group to a “strong-buy” rating in a research report on Thursday, September 19th. Barclays upgraded Ashtead Group to a “strong-buy” rating in a report on Thursday, August 1st.

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.