Ashtead Group (OTCMKTS:ASHTY) Share Price Crosses Below 50-Day Moving Average – Should You Sell?

Ashtead Group plc (OTCMKTS:ASHTY) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $281.04 and traded as low as $268.16. Ashtead Group shares last traded at $270.57, with a volume of 32,468 shares traded.

Analysts Set New Price Targets

A number of research analysts recently commented on ASHTY shares. The Goldman Sachs Group cut Ashtead Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada raised Ashtead Group from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 3rd.

Ashtead Group Stock Down 1.6 %

The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.22 and a current ratio of 1.31. The stock’s 50 day moving average price is $281.04 and its 200-day moving average price is $287.35. The company has a market cap of $29.52 billion, a PE ratio of 19.18, a PEG ratio of 1.69 and a beta of 1.69.

Ashtead Group (OTCMKTS:ASHTY) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $4.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.96 by ($0.32). Ashtead Group had a net margin of 14.78% and a return on equity of 22.65%. On average, analysts predict that Ashtead Group plc will post 14.56 earnings per share for the current year.

Ashtead Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 10th will be paid a $1.44 dividend. The ex-dividend date of this dividend is Friday, January 10th. Ashtead Group’s dividend payout ratio (DPR) is currently 19.70%.

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.