Ashtead Group’s (ASHTY) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Ashtead Group (OTCMKTS:ASHTY) in a report published on Monday morning, The Fly reports.

A number of other equities analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Ashtead Group from a buy rating to a hold rating in a research report on Friday, June 11th. JPMorgan Chase & Co. reissued an overweight rating on shares of Ashtead Group in a report on Friday, September 17th. The Goldman Sachs Group reissued a buy rating on shares of Ashtead Group in a report on Thursday, July 1st. Credit Suisse Group reissued an outperform rating on shares of Ashtead Group in a report on Friday, September 17th. Finally, Barclays reaffirmed an overweight rating on shares of Ashtead Group in a research note on Friday, September 17th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $349.00.

OTCMKTS:ASHTY opened at $326.52 on Monday. Ashtead Group has a 1-year low of $140.90 and a 1-year high of $343.83. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.93. The firm has a fifty day simple moving average of $313.57 and a 200 day simple moving average of $287.94. The stock has a market capitalization of $36.51 billion, a PE ratio of 39.87 and a beta of 1.71.

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 6th. Shareholders of record on Friday, August 20th will be paid a dividend of $1.893 per share. This is an increase from Ashtead Group’s previous Semi-Annual dividend of $1.69. The ex-dividend date of this dividend is Thursday, August 19th. Ashtead Group’s payout ratio is presently 43.36%.

Ashtead Group Company Profile

Ashtead Group Plc engages in the provision of equipment rental services. The company offers a full range of construction and industrial equipment used in lift, power, generate, move, dig, compact, drill, support, scrub, pump, direct, heat, and ventilate. It operates through the following segments: Sunbelt, A-Plant, Sunbelt Canada, and Corporate Items.

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