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

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

Several other equities research analysts also recently weighed in on the stock. KeyCorp upgraded shares of Ashtead Group from a “hold” rating to an “overweight” rating in a research note on Tuesday, December 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of Ashtead Group in a research report on Tuesday. Jefferies Financial Group downgraded Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 11th. BNP Paribas upgraded Ashtead Group from an “underperform” rating to an “outperform” rating in a research note on Tuesday, September 16th. Finally, Royal Bank Of Canada lowered shares of Ashtead Group from a “hold” rating to a “strong sell” rating in a research report on Friday, September 19th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ashtead Group currently has a consensus rating of “Hold”.

Ashtead Group Price Performance

ASHTY stock opened at $254.61 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The business has a 50 day simple moving average of $254.92 and a 200-day simple moving average of $269.86. Ashtead Group has a twelve month low of $186.01 and a twelve month high of $310.30.

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

About Ashtead Group

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.