Ashtead Group (OTCMKTS:ASHTY) Stock Crosses Below 50-Day Moving Average – Here’s Why

Ashtead Group plc (OTCMKTS:ASHTY)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $274.93 and traded as low as $264.31. Ashtead Group shares last traded at $325.13, with a volume of 17,002 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada raised Ashtead Group from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lowered Ashtead Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Ashtead Group Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average price of $275.09 and a two-hundred day moving average price of $287.59. The stock has a market cap of $28.89 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.69.

Ashtead Group (OTCMKTS:ASHTY) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $4.64 earnings per share for the quarter, missing the consensus estimate of $4.96 by ($0.32). Ashtead Group had a return on equity of 22.65% and a net margin of 14.78%. On average, sell-side analysts forecast that Ashtead Group plc will post 14.56 earnings per share for the current fiscal year.

Ashtead Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $1.44 per share. The ex-dividend date of this dividend is Friday, January 10th. Ashtead Group’s dividend payout ratio is presently 19.70%.

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.