Share Name Share Symbol Market Type Share ISIN Share Description
Ashtead Group LSE:AHT London Ordinary Share GB0000536739 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -12.00p -0.56% 2,134.00p 2,131.00p 2,133.00p 2,152.00p 2,124.00p 2,146.00p 1,668,659 16:35:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 3,186.8 765.1 100.5 21.2 10,653.48

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Ashtead Group (AHT) Discussions and Chat

Ashtead Group (AHT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-01-18 16:53:162,131.9968414,582.83O
2018-01-18 16:52:492,142.0060012,852.00O
2018-01-18 16:52:382,134.622,70057,634.87O
2018-01-18 16:52:252,135.0231661.86O
2018-01-18 16:52:122,132.681,70036,255.57O
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Ashtead Group (AHT) Top Chat Posts

DateSubject
18/1/2018
08:20
Ashtead Group Daily Update: Ashtead Group is listed in the Support Services sector of the London Stock Exchange with ticker AHT. The last closing price for Ashtead Group was 2,146p.
Ashtead Group has a 4 week average price of 1,915p and a 12 week average price of 1,871p.
The 1 year high share price is 2,168p while the 1 year low share price is currently 1,476p.
There are currently 499,225,712 shares in issue and the average daily traded volume is 2,159,912 shares. The market capitalisation of Ashtead Group is £10,653,476,694.08.
11/1/2018
17:46
davidcar7: Before Christmas I said that I had written to Geoff Drabble to let him know that I personally would prefer the Company to have increased dividends and reduced borrowing rather than buy back shares. I promised to share any reply I received from him with you -I am delighted to have received a reply this week which was held up in the Christmas mail as it was dated 18th December! Although he has not directly answered my suggestion of higher dividends he has given his thoughts on the subject of buybacks. I quote as follows: Our priorities remain fleet growth and small bolt on acquisitions as we gain market share and improve margins by leveraging the fixed cost in our now extensive depot platform. Clearly this is designed to enhance earnings per share and therefore the share price. We also find ourselves highly cash generative and even after funding these plans, unless we make further investment, our net debt to Ebitda leverage would begin to fall well below our target range of 1.5 to 2.0 times. The big question I guess is, whether this is desirable or not? Well this really depends on our outlook and where we are in the cycle. Currently, our outlook is very positive and we anticipate multiple years of moderate growth. Therefore, we are happy to operate within our longstanding range. It's my belief that by allocating £500m (which would otherwise only be used to delever) to reduce the share count and hence improve EPS, is a sensible approach. As it happens ,from a multiple perspective I do think we are undervalued and having the discipline to recognise this rather than potentially pay inflated multiples for large M&A is a sensible low risk approach to growing the share price. Also , as our cash flow is better understood, I do think there is a chance that we also get a re-rating - but who knows. So will we spend £500m or £1bn? I don't know! We could spend £1bn but only if there is an absence of good organic growth opportunities and/or M&A. However be assured we will always be disciplined in our leverage, remaining within guidance and will constantly reassess what constitutes value. I hope this helps. Of course, there is judgement involved but it is made with a clear understanding of the parameters in which we should operate and a focus on long term share price appreciation. It may surprise you to hear that I was anticipating your letter. I do regularly read a range of share blogs to gauge reaction to what we do and suspect you may participate on AdVfn. If I am correct, thank you for your continued interest in Ashtead and I trust your other investments are as successful. Please pass on my best to all others involved. I don't agree with everything that's written, particularly recently, but it is of great interest and has been for over 10 years. I appreciate the trouble Geoff has taken to reply to me and thank him for it.
14/12/2017
19:46
davidcar7: Ref post 54796 ianwwwhite I have written to Geoff Drabble re the buy back vs higher dividends and reduction in debt owing. Should I receive a reply I would be happy to share the substance of that response. Since the results were issued 2 days ago the shares have drifted quite a significant amount lower -however the figures were outstanding and I believe eventually AHT share price will continue its upward trajectory.
14/12/2017
17:41
ianwwwhite: One final thought on the share buyback rationale.... If AHT price continues to fall, and AHT continue to be very cash generative, this might make us a tempting target for any predatory competitor. Any retained cash pile would of course help defray some of a successful aggressor's costs of the deal as well. Could the share buyback supporting the share price be a defence mechanism for AHT? ..... just a thought :-) .
13/12/2017
14:36
fenners66: One thing this buyback has done is distracted attention away from great results - more stupidity. One alternative is that the directors knew they were going to sell shares and the impact that would have , so to try and make up for that, the announcement of buybacks was to suggest they could prop the share price up for the remaining holders to somewhere near where they would sell at. Which does not make for a business case ! Its vanity that they do not want to be blamed for the share price fall. At the end of the day I get that they want to bank profits - we all do , its no good just on paper. So sell the shares and be damned , you managed the business up to this level if you want to sell - no problem. But do NOT blow a £bn because you want to be loved ! There has to be a business case - that's what you are paid for ! Make more profit , hold less debt, realise more cash, pay higher dividends! Do that and the share price will take care of itself !
13/12/2017
12:38
fenners66: Bukko - I follow a similar sales strategy Buy backs a $ for 85 cents only works when that is the case - not waiting till the share reaches an all time high and then announce you are buying $'s for 120 cents. I agree until now the share price has been too high to buy any - good. So why announce you want to spend a £bn? Its pathetic Also buy backs only have any effect directly on the share price at the moment of the purchase. Say the day after they spent £1bn , there are more sellers than buyers - just because they want to do something else with the money - maybe crystallise profits - what happens then? Share price falls - thats the market thats what it does. So how does the spend look then ? Waste of money ! Give us a permanent higher yield ever heard of the Dividend Valuation Model ????
12/12/2017
10:14
fenners66: So I have to wonder at the motivation of share buy backs. Who does it really benefit? If you pay income tax at 50% and get extra dividends then you lose half in tax. If you sell a few shares for a CGT tax free allowance you already benefit - so a small increase in the share price has little benefit. If however you have a significant interest in shares built up say through a company share scheme - which itself can be a tax free shelter - and then you have a small increase vs a lot of shares ALL sold at once - that could result in a more significant tax saving. Alternatively (I dont know how or if this applies to quoted plc's) if you have a large shareholding and are looking to retire there is(was?) business assets retirement relief. Share price goes up - sell all shares and retire , claim retirement relief and get out tax free. So I don't know if that can apply here - say to a retiring chairman - but if it did - would that add a reason for share buy backs? Give us more dividends !!
23/10/2017
18:18
fenners66: I think that shorting is fine. It is no different to selling shares because you have made a profit and think the share has reached the top. When you sell a share at the top of its run , just as it turns around and drops 15% do you shed a tear for the poor fellow (mug) who bought them off you? Do you secretly (or perhaps not so secretly) gloat that you got that one right and then wonder if it falls back some more will it be a buying opportunity? No one cares that, that fall may have triggered the stop loss of the fellow that bought them off you. The biggest case of shorting I have seen is Carillion where over 20% of the shares were shorted - mostly from over £3 whilst the company continued to preach in their glossy huge accounts book that everything was fine. Shorters took very large positions on the basis that they knew more about the business than the directors did. Not that they knew more about the share price prospects or that they could influence them - but that the business was a basket case despite the directors reassurances. The FD reported everything was fine at the AGM and 2 months later announced £850m of write offs ! Suddenly the share price then collapsed and the shorters were in serious money - but they took the same ( arguably greater risks) than the longs and it paid off. Sure the share price had a gentle decline during the last 2 years - but its was the announcement that the truth was out and 5 years profits were mistaken that killed the share price and the holders. Since that incident I have added short tracker to my browser favourites and I will now check the short position prior to any buys. I had been wondering about buying some CLLN I am seriously glad I didn't.
02/8/2017
08:55
fenners66: Ok for what its worth:- Lets say they bought CRS on a similar multiple to the current AHT share price. That makes the $275m something like 2.6% of AHT Using that assumption they should be buying 2.6% of turnover - About £82m of turnover Interestingly if I use the AHT accounts turnover by employee and multiply by 400 ( the number we have from the acquisition news ) that would give us a turnover of around £93m. I think this actually re-enforces the lower assumption as the smaller standalone business probably has a higher relative admin staff number. Pre-tax profit is about 24% so £82m x 24% = c£20m We trade on a multiple of say 16.3 at the moment so that's worth £321m and we used cash of £211 to get it. I anticipate once they have been integrated there will be savings and efficiencies and a profit increase. It may well need more cash to improve the life of the plant ( if you are selling a business you sweat the assets and generate cash and profit at the expense of capex for a few years to make it look good). There may even have been a negative impact with their customers if they had to put up with old plant. Overall though bolt on profitable acquisitions are probably a good way of diverting cash to build the share price long term.
17/7/2017
13:45
ianwwwhite: Good afternoon bracke, My earlier comment was made in a light-hearted vein, I am sorry if it has touched a raw nerve. Nevertheless, as you have posed the questions, I am happy to share my views: At any one time it seems self-evident that the AHT share price is the product of a number of key factors: • The company’s results, previous trading and financial performance • The company’s barriers to competition, other competitors, and future market and trading prospects • Investment Analysts recommendations (including those using TA) • Shareholders and prospective purchasers propensity to buy/sell/hold/short shares In addition in the wider market the follow factors seem important: • General market trends • Speed of migration from equipment ownership to renting • Economic cycle • Currency fluctuations (particularly $/£) • Countries attempts to manage their economies e.g. Janet Yellen (rates/expansion/contraction) • Factors like the ‘Trump’ effect In the period from March to June we have had some significant other developments: • Q3 and Q4 results, and record profits for the year ending 30th Apr • Positive free cash flow for the first time in the last five years of 319 mil • Dividend increased again • Five positive Brokers estimates in the range 1650-2000p • Short Tracker indicates shorts above 0.5% stable at 1.14%, lowest since 2015 It seems that all these factors will have played a part in maintaining the AHT share price, (I am sure you can think of others), and of course last but not least there is also the share price movements caused by speculators who form a valuable part of the market although their activities may often create a divergence between market price and the company’s perceived intrinsic value. Did fundamentals play a part in the prices changes you mention – they certainly did in my view. Finally in trying to understand the markets, I am very much drawn to Robert Rheas’s Ripples, Waves and Tides analogy described in The Dow Theory. It makes pefect sense to me!
04/12/2015
13:35
gordo58: from bloomberg: Employment in November was spurred by the biggest increase in construction hiring since January 2014. got to help Aht share price hasn't it??
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