Ashtead Group (OTCMKTS:ASHTY) Sets New 12-Month Low – Here’s Why

Ashtead Group plc (OTCMKTS:ASHTY)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $222.22 and last traded at $222.50, with a volume of 9175 shares trading hands. The stock had previously closed at $227.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group cut Ashtead Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Royal Bank of Canada raised shares of Ashtead Group from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Ashtead Group in a research note on Wednesday, March 5th. One equities 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 data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Ashtead Group Price Performance

The company has a fifty day moving average of $249.14 and a 200-day moving average of $277.82. The stock has a market cap of $24.14 billion, a PE ratio of 15.77, a P/E/G ratio of 1.49 and a beta of 1.77. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 1.09.

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

Ashtead Group Company Profile

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.