Ashtead Group (OTCMKTS:ASHTY) Rating Increased to Moderate Buy at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Ashtead Group (OTCMKTS:ASHTY) from a hold rating to a moderate buy rating in a research note published on Tuesday morning,Zacks.com reports.

Separately, Berenberg Bank upgraded Ashtead Group to a “strong-buy” rating in a report on Thursday, September 19th.

Ashtead Group Trading Up 0.4 %

Shares of ASHTY stock opened at $328.99 on Tuesday. The stock has a 50-day simple moving average of $314.01 and a 200 day simple moving average of $292.97. The stock has a market capitalization of $35.97 billion, a P/E ratio of 23.22, a P/E/G ratio of 1.92 and a beta of 1.64. Ashtead Group has a fifty-two week low of $241.94 and a fifty-two week high of $337.95. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 1.08.

Ashtead Group (OTCMKTS:ASHTY) last issued its earnings results on Tuesday, September 3rd. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.85 by $0.03. Ashtead Group had a return on equity of 23.60% and a net margin of 14.94%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.74 billion. On average, sell-side analysts expect that Ashtead Group will post 15.38 earnings per share for the current fiscal year.

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.