Ashtead Group (OTCMKTS:ASHTY) Upgraded at Royal Bank of Canada

Ashtead Group (OTCMKTS:ASHTY) was upgraded by investment analysts at Royal Bank of Canada from a “hold” rating to a “moderate buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

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

Ashtead Group Stock Performance

Shares of Ashtead Group stock opened at $327.42 on Tuesday. The firm has a market cap of $35.80 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.64. The stock’s 50-day moving average is $313.18 and its 200-day moving average is $292.47. Ashtead Group has a one year low of $241.34 and a one year high of $337.95. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 1.08.

Ashtead Group (OTCMKTS:ASHTY) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $3.88 EPS for the quarter, beating 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 company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.74 billion. Equities analysts predict that Ashtead Group will post 15.38 earnings per share for the current fiscal year.

Ashtead Group Company Profile

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.