Ashtead Group (OTCMKTS:ASHTY) Raised to Hold at Zacks Research

Ashtead Group (OTCMKTS:ASHTY) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on ASHTY. KeyCorp raised shares of Ashtead Group from a “hold” rating to an “overweight” rating in a research note on Tuesday, December 16th. Royal Bank Of Canada lowered shares of Ashtead Group from a “hold” rating to a “strong sell” rating in a report on Friday, September 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Ashtead Group in a report on Tuesday. BNP Paribas upgraded Ashtead Group from an “underperform” rating to an “outperform” rating in a report on Tuesday, September 16th. Finally, Jefferies Financial Group lowered Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold”.

Ashtead Group Stock Performance

Shares of ASHTY stock opened at $254.61 on Monday. Ashtead Group has a fifty-two week low of $186.01 and a fifty-two week high of $310.30. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. The stock’s 50-day simple moving average is $254.92 and its 200-day simple moving average is $269.86.

Ashtead Group (OTCMKTS:ASHTY) last issued its earnings results on Tuesday, December 9th. The company reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.55 by $0.12. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.97 billion. Ashtead Group had a return on equity of 20.77% and a net margin of 13.09%. As a group, sell-side analysts forecast that Ashtead Group will post 15.51 EPS for the current year.

Ashtead Group Company Profile

Ashtead Group plc is a multinational equipment rental company that provides a broad range of rental solutions to construction, industrial, infrastructure and specialty markets. The business supplies temporary access, earthmoving, material handling, power and climate control equipment, tools and ancillaries to contractors, facilities managers and industrial customers. Its model emphasizes short- and long-term equipment hire as an alternative to capital ownership, supported by logistics, maintenance and on-site support to keep customer projects running.

The company’s product and service offering spans general-purpose and specialist equipment categories, including aerial work platforms, excavators and skid steers, generators and power distribution, HVAC and dewatering solutions, and hand and power tools.