Ashtead Group (OTCMKTS:ASHTY) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Ashtead Group plc (OTCMKTS:ASHTY) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty 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

ASHTY has been the topic of several research reports. The Goldman Sachs Group lowered Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note 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 report on Tuesday, December 3rd.

Ashtead Group Price Performance

The firm has a market cap of $35.47 billion, a P/E ratio of 23.04, a PEG ratio of 1.74 and a beta of 1.69. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 1.09. The firm has a 50-day simple moving average of $274.93 and a 200-day simple moving average of $287.33.

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

Ashtead Group Cuts Dividend

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

About Ashtead Group

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.