Ashtead Share Discussion Threads

[bracke] 01/5/2024 14:20

One gap filled, two in line at 5558 and 5312. The share price has returned to the 'comfort' of the rising channel.

Unless Mr Powell wants to show off his Dove plumage 5558 is likely to fill today/tomorrow. If he is in Hawk mode 5312 is at risk.

The ADP Employment Change today was below the previous reading (208k) but above expectation (175k).


AHT DAILY

[2flatpack] 01/5/2024 10:21

I live in hope.

[trt] 01/5/2024 09:18

Could see profit taking bringing this down to below £55

[thompsonnic] 01/5/2024 08:37

Bracke Gap at 5760 filled and more. You mentioned a further gap to fill at 5312, will this be the case or will that be saved for another day. That would definitely be a buying opportunity.

[palwing32] 01/5/2024 08:23

EDIT: 1 minute later, 5728. Gap over filled?

[palwing32] 01/5/2024 08:22

08:21 - 5750p Gap filled?

[fenners66] 01/5/2024 07:59

Is Kyle Horgan - included in the presentation related to the CEO ?
If so is that a genuine appointment or nepotism ?

[fenners66] 01/5/2024 07:52

Update to that infrastructure spend I misremembered yesterday -
Charlie Wells on Bloomberg just said Amazon alone are going to invest $150bn on AI cloud solutions
that will be infrastructure spend - data centres , power and cooling etc.

[c_k] 30/4/2024 21:34

The presentation tonight was interesting but very long. I note the called out subtle (not) comment about listing in the US. For a capital event presentation, for a company who has 90% of its revenue in the US, the bankers accents were British. My view is they do need to move the listing to the US to try and get a re- rating. There was a couple of points about the recent hiccups compared to their competitor and why they were being so conservative about growth compared to their historic growth. A long session but the senior team could have done better - or do URI have the upper hand. I have had skin in the game since the stock was under a pound and can see potential but I do worry that the management could be better. I look forward to Brackes comments who makes this thread the highlight of ADVFN

[fenners66] 30/4/2024 19:56

Looking at H&E's first quarter results they don't seem all that.

They increased revenue but on the back of increases in sites , sales of second hand and new equipment.
But qtr on qtr rates slipped a little and utilisation was down.

Not the exciting qtr the market was hoping for I guess....

" FIRST QUARTER 2024 SUMMARY WITH A COMPARISON TO FIRST QUARTER 2023

Revenues increased 15.2% to $371.4 million compared to $322.5 million.
Net income totaled $25.9 million compared to $25.7 million. The effective income tax rate was 26.5% compared to 26.1%.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased 13.1% to $161.7 million compared to $143.0 million. Adjusted EBITDA margin was 43.6% compared to 44.4%.
Total equipment rental revenues were $295.3 million, an increase of $33.3 million, or 12.7%, compared to $262.0 million. Rental revenues were $261.7 million, an increase of $29.7 million, or 12.8%, compared to $232.1 million.
Sales of rental equipment increased 49.8% to $48.1 million compared to $32.1 million. Margins improved to 62.9% compared to 58.6%.
Sales of new equipment totaled $10.4 million, an increase of 33.2% compared to $7.8 million.
Gross margin improved to 44.4% compared to 43.8%.
Total equipment rental gross margins were 43.3% compared to 43.6%. Rental gross margins were 48.5% compared to 48.4%.
Average time utilization (based on original equipment cost) was 63.6% compared to 67.3%. The Company’s rental fleet, based on original equipment cost, increased $383.0 million, or 15.7% to just over $2.8 billion.
Average rental rates improved 2.9% from the year-ago quarter and declined 0.2% on a sequential quarterly basis.
Dollar utilization was 37.0% compared to 38.6%. "

[bracke] 30/4/2024 16:54

Good day Thompsonnic

"Bracke it looks like it is going to fill that gap at 5760 as you correctly said earlier on. Spot on again."
================================================================================

I would like to say that it takes a lifetime of learning and skill to make such pronouncements but of course it doesn't. It was a high probability, besides the denizens on this thread would make rude comments and mock me.

As I type the gap has not yet been filled having only reached 5770 but not to worry disco's favourite central banker's utterances will undoubtedly complete the job tomorrow.

[disc0dave46] 30/4/2024 16:37

HEES Q1 comments may have caused the late dip, or Mr P has opened his mouth!.

[thompsonnic] 30/4/2024 16:16

Bracke it looks like it is going to fill that gap at 5760 as you correctly said earlier on. Spot on again.

Edit: or nearly 5770

[fenners66] 30/4/2024 14:17

A relevant point being made on Bloomberg yesterday that the large tech companies planning on spending $bns on AI - $36bn ?
are not just spending on tech hardware , its got to be spent on building new data centres and infrastructure around power supply and cooling - water supply.

It makes sense given the scale of the numbers involved.

So how much is plant rental likely to be ?

[bracke] 29/4/2024 13:38

"The question is are there sufficient buyers willing to purchase at the current level in the expectation of the HSBC target of 6600?"
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It appears there were but the volume does not appear to support the amount of the increase, suggesting other factors at play.

Not whithstanding the volume the share price is where it is. It has broken up out of the rising channel. It's also broken up out of the 4400-5800 range.

The US market continues upward. Mr Powell speaks this week but although the market reacts to any bearish comments it soon recovers and continues up.

AHT DAILY

[rupertvons] 26/4/2024 18:56

Closing in on all time high of £64

[bracke] 26/4/2024 14:22

Decision time for the share price

SP is up on the back of the URI results. Now comes the difficult part

The share price gapped up on open from previous close at 5760 and reached the top of the ascending channel but once again the RSI is suggesting overbought.

The question is are there sufficient buyers willing to purchase at the current level in the expectation of the HSBC target of 6600?

One (but not me) may consider the share price is due a trip to the lower line of the ascending channel but barring something nasty occurring it seems unlikely. More probable is a retrace to fill the 5760 gap.

AHT DAILY

[bigbigdave] 26/4/2024 09:43

*HSBC RAISES ASHTEAD TO 'BUY' - PRICE TARGET 6600 PENCE

[disc0dave46] 26/4/2024 09:39

Post 62715No problem :)

[perfido] 26/4/2024 09:20

Thanks fenners,good spot :-)

[fenners66] 25/4/2024 23:59

Upped their dividend by 10% as well
Full year guidance is up across the board

[fenners66] 25/4/2024 23:59

URI Summary of First Quarter 2024 Financial Results

Rental revenue increased 6.9% year-over-year to a first quarter record of $2.929 billion, reflecting broad-based strength of demand across the company's end-markets. Fleet productivity increased 4.0% year-over-year, while average original equipment at cost (“OEC”) increased 3.6%.
Used equipment sales in the quarter decreased 1.3% year-over-year. Used equipment sales generated $383 million of proceeds at a GAAP gross margin of 48.8% and an adjusted gross margin9 of 53.3%, compared to $388 million at a GAAP gross margin of 49.0% and an adjusted gross margin of 59.5% for the same period last year. The year-over-year decline in the adjusted gross margin primarily reflected the continued normalization of the used equipment market, including pricing.
Net income for the quarter increased 20.2% year-over-year to a first quarter record of $542 million, while net income margin increased 190 basis points to 15.6%. The increase in net income margin was primarily driven by higher gross margin from rental revenue, which included the impact of a decrease in depreciation expense as a percentage of revenue, and reductions in selling, general and administrative ("SG&A") and non-rental depreciation and amortization expenses as a percentage of revenue.
Adjusted EBITDA for the quarter increased 5.6% year-over-year to a first quarter record of $1.587 billion, while adjusted EBITDA margin decreased 30 basis points to 45.5%. The decrease in adjusted EBITDA margin primarily reflected a decrease in adjusted gross margin from used equipment sales as discussed above.
General rentals segment rental revenue increased 2.6% year-over-year to a first quarter record of $2.070 billion, while rental gross margin was flat year-over-year at 32.9%.
Specialty rentals segment rental revenue increased 19.0% year-over-year to a first quarter record of $859 million. Rental gross margin increased by 200 basis points year-over-year to 49.1%, supported by strong cost performance and fixed cost absorption on higher revenue

[perfido] 25/4/2024 19:24

Thanks dd, much appreciated :-)

[disc0dave46] 25/4/2024 18:41

URI Q1 revenues beat forecasts and they've raised 2024 guidance.That said their net income was marginally below forecasts with eps about 3% below forecasts - but the market seems to be impressed so far anyway!.