Ashtead Group (OTCMKTS:ASHTY) Cut to Hold at Royal Bank of Canada

Royal Bank of Canada cut shares of Ashtead Group (OTCMKTS:ASHTY) from a moderate buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Separately, Morgan Stanley reaffirmed an “overweight” rating on shares of Ashtead Group in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Ashtead Group Stock Down 2.6 %

ASHTY stock opened at $217.34 on Tuesday. The company’s 50 day moving average is $225.34 and its two-hundred day moving average is $263.54. 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 has a twelve month low of $186.01 and a twelve month high of $337.95. The stock has a market cap of $23.49 billion, a P/E ratio of 15.40, a PEG ratio of 1.49 and a beta of 1.69.

Ashtead Group (OTCMKTS:ASHTY) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.38). Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.16 billion. Research analysts expect that Ashtead Group will post 15.51 earnings per share 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.