ASHTEAD GRP PLC/ADR (OTCMKTS:ASHTY) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of ASHTEAD GRP PLC/ADR (OTCMKTS:ASHTY) from a hold rating to a sell rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Ashtead Group Plc is an equipment company which provides rental solutions primarily in United States and United Kingdom. The company’s operating segments consists of Sunbelt Rentals and A-Plant. Sunbelt Rentals provides pump and power, climate control and scaffolding services. A-Plant business operates through Eve Trakway Limited, which constructs temporary roadways and barriers; PSS, which offers trenchless technology and fusion services and FLG services. Ashtead Group Plc is headquartered in London, the United Kingdom. “

A number of other analysts have also recently commented on the stock. Deutsche Bank reiterated a hold rating on shares of ASHTEAD GRP PLC/ADR in a research note on Wednesday, June 17th. Berenberg Bank reiterated a sell rating on shares of ASHTEAD GRP PLC/ADR in a research note on Wednesday, July 1st. Barclays reiterated an overweight rating on shares of ASHTEAD GRP PLC/ADR in a research note on Wednesday, June 17th. JPMorgan Chase & Co. reiterated an overweight rating on shares of ASHTEAD GRP PLC/ADR in a research note on Monday, June 22nd. Finally, Liberum Capital cut shares of ASHTEAD GRP PLC/ADR from a buy rating to a hold rating in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. ASHTEAD GRP PLC/ADR presently has a consensus rating of Hold.

Shares of ASHTY opened at $139.00 on Friday. ASHTEAD GRP PLC/ADR has a 12 month low of $53.33 and a 12 month high of $148.00. The firm has a fifty day simple moving average of $137.49 and a 200 day simple moving average of $118.91. The stock has a market capitalization of $15.61 billion, a price-to-earnings ratio of 17.08 and a beta of 1.82. The company has a current ratio of 1.60, a quick ratio of 1.49 and a debt-to-equity ratio of 1.85.

ASHTEAD GRP PLC/ADR (OTCMKTS:ASHTY) last announced its earnings results on Tuesday, June 16th. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.75). The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.45 billion. ASHTEAD GRP PLC/ADR had a return on equity of 26.94% and a net margin of 14.87%. As a group, research analysts predict that ASHTEAD GRP PLC/ADR will post 6.28 earnings per share for the current fiscal year.

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, August 14th will be paid a dividend of $1.69 per share. The ex-dividend date of this dividend is Thursday, August 13th. This is a boost from ASHTEAD GRP PLC/ADR’s previous Semi-Annual dividend of $0.33. ASHTEAD GRP PLC/ADR’s dividend payout ratio (DPR) is currently 38.28%.

ASHTEAD GRP PLC/ADR Company Profile

Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It offers equipment for use in lifting, powering, generation, moving, digging, compacting, drilling, supporting, scrubbing, pumping, directing, heating, and ventilating works. The company provides various types of construction equipment for non-residential construction markets; and facilities management equipment for the maintenance and repair of facilities.

Further Reading: What is Cost of Goods Sold (COGS)?

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