Ashtead Group (OTCMKTS:ASHTY) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Ashtead Group (OTCMKTS:ASHTY – Get Rating) from a buy rating to a hold rating in a research report released on Tuesday, 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. “

Several other equities research analysts also recently weighed in on ASHTY. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ashtead Group from GBX 5,230 ($64.48) to GBX 4,770 ($58.81) in a research note on Wednesday, April 13th. Peel Hunt raised shares of Ashtead Group to a hold rating in a research note on Tuesday, March 15th. Royal Bank of Canada raised their price target on shares of Ashtead Group from GBX 4,900 ($60.41) to GBX 4,950 ($61.03) in a research note on Wednesday, March 9th. JPMorgan Chase & Co. reduced their price target on shares of Ashtead Group from GBX 6,500 ($80.14) to GBX 6,100 ($75.21) in a research note on Tuesday. Finally, Exane BNP Paribas raised shares of Ashtead Group from a neutral rating to an outperform rating and set a GBX 6,000 ($73.97) price target on the stock in a research note on Thursday, March 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $4,406.00.

ASHTY stock opened at $195.54 on Tuesday. Ashtead Group has a 52 week low of $184.12 and a 52 week high of $349.69. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.02. The company has a fifty day simple moving average of $243.69 and a two-hundred day simple moving average of $287.01. The firm has a market capitalization of $21.68 billion, a P/E ratio of 18.52 and a beta of 1.70.

Ashtead Group (OTCMKTS:ASHTY – Get Rating) last released its quarterly earnings data on Tuesday, March 8th. The company reported $2.90 EPS for the quarter. Ashtead Group had a net margin of 15.46% and a return on equity of 27.56%. The business had revenue of $2 billion during the quarter. As a group, analysts anticipate that Ashtead Group will post 11.94 EPS for the current year.

Ashtead Group Company Profile (Get Rating)

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 offers range of products and services, such as general tools, air compressors and accessories, compaction and earth moving, climate control services, power and HVAC, pump solutions, remediation and restoration, flooring solutions, and lighting and grip.

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