Ashtead Share Discussion Threads

[bracke] 01/7/2024 15:44

Good day disc0

I thought we were still in the 'bad news is good news' phase i.e. bad news is good for a rate drop which is good news.

[disc0dave46] 01/7/2024 14:30

US ISM manufacturing PMI fell to 48.5 from 48.7 and a rise to 49.1 was expected.Hence the drop on news (I guess)

[disc0dave46] 01/7/2024 09:01

Good day Mr b".....Compared to the US our 'two players' are positively 'Star Quality'. (I can't believe I typed that!)"I did type something similar - then deleted! lol

[bracke] 29/6/2024 17:14

Good day disc0

There is another debate scheduled for 10 September. If Biden is still the Democratic candidate will an excuse be made to cancel it or will more powerful drugs be used....

Biden or Trump what a choice. Compared to the US our 'two players' are positively 'Star Quality'. (I can't believe I typed that!)

[disc0dave46] 29/6/2024 12:08

Good day Mr b"They are probably thinking about 'The Biden Situation'!"Having just listened to some snippets, yep!, feel for the guy tbh but what a disaster....so the choice they have is vote for an old man (clearly struggling cognitively IMO) or a mad man (subjective)?. What a choice!.Have a good weekend

[bracke] 28/6/2024 17:44

Good day disc0

"US PCE as forecast but markets seem unimpressed."
==================================================

They are probably thinking about 'The Biden Situation'!

I was pondering whether Mr Trump would like to see Biden stay or go. One imagines Democrat Seniors will be busy trying to get Biden to quit.

[disc0dave46] 28/6/2024 14:09

Thanks for your TA as ever Mr b.US PCE as forecast but markets seem unimpressed.

[2flatpack] 27/6/2024 11:58

Morning All,
Managed to grab a few below the 200day.
Now just sit and wait.
Cheers

[bracke] 27/6/2024 10:32

A big drop this morning on opening which is surprising given that US major shareholder
Dodge & Cox increased their holding yesterday from 2.432% to 5.18%.

Support at 5300 has broken and the concern is that it will become resistance. If so 5200 may become support but more probably 5100.

[perfido] 26/6/2024 18:36

Thanks again bracke, much appreciated

[bracke] 26/6/2024 17:11

"Perhaps tomorrow's (US) announcements will provide some stimulation..?"
=======================================================================

There's a thought. Some would say the US Market is over stimulated or at least the big 7 or is it the big 5 now. The market breath is narrow (see link - far right column). Small and medium company indices show modest gains or loss for the year to date.

The Fed remain committed to 2% inflation so no stimulation. If the spectre of recession grows more apparent maybe '2% inflation' will go the way of 'transitory'.

[perfido] 26/6/2024 15:50

Thanks bracke,

As always your analysis is invaluable in trying to understand market sentiment.

I reduced some of my AHT holdings in April 24 at 6046.9, and could be tempted to buy some back
in if the price continues to fall. Perhaps tomorrow's (US) announcements will provide some
stimulation..?

[bracke] 26/6/2024 12:31

State of Play

Looking at the chart below it will be seen that the share price has performed lower highs and lower lows i.e. a downtrend. The share price has dropped out of the long term rising channel and is again at 5300 support.

A close below support and a lower low increases the probability of a drop to 5100. To provide confidence that the fall is over the share price needs to rise and close above resistance at 5500 to form a higher high.

AHT DAILY

[bracke] 24/6/2024 17:00

Good day disco

Mr Powell has been wearing his hawk costume of late and the dot plot is one for this year; so perhaps a rate reduction just before the election?

I've been reading about World banking debt and the Norinchukin Bank. The last time I read about such thinks was about six months before the sub-prime mortgage fiasco.
I didn't believe the doom forecasts; they were correct.

[disc0dave46] 24/6/2024 14:14

Good day Mr b.Yes hopefully Mr Powell will be more dovish after this weeks jobless number and PCE data......but then again who knows!.

[disc0dave46] 24/6/2024 14:12

Thanks PerfidoI did note (forgot to post on results day) that a certain publication (Shares Magazine) mentioned prior to results that the market forecast was an eps of 386p (which equates to circa 490 cents), which clearly was a typo and should have been in US cents, but perhaps this may have been partly to blame for the over the top selling on the day of results. Even though the numbers weren't anything to get too excited about (hopefully they are guiding now very conservatively!).

[bracke] 24/6/2024 12:26

The share price is currently range-bound. Resistance at 5500. Support at 5300.
Perhaps data later this week will break the impasse.

[perfido] 22/6/2024 09:21

Encouraging AHT write-up on Citywire:

Equipment rental group Ashtead (AHT) is working towards sustainable double-digit earnings growth, says Peel Hunt.

Analyst Andrew Nussey reiterated his ‘add’ recommendation and target price of £60 on the Citywire Elite Companies A-rated stock, which fell 2.3% to £53.86 on Tuesday.

The shares fell despite broadly in-line full-year 2024 results, including pre-tax profits of $2.2bn.

‘Ashtead continues to execute strongly, with end markets remaining robust,’ said Nussey. ‘Structural drivers continue to accelerate and market share is concentrating on a smaller number of well-invested and differentiated rental companies.’

He added that the five-year aspirations set out in the capital markets day are ‘credible’.

‘With a visible pathway to double-digit compound annual earnings per share growth and the share trading on 17.3 times price-earnings, we reiterate our “add” recommendation,’ he said.

Source: (registration is required to read this article at source - no advice intended!)

[disc0dave46] 20/6/2024 11:56

Yeah a bit surprised they got the Amey contract.....let's hope they keep a better track on their plant this time!.

[2flatpack] 19/6/2024 16:13

Unfortunately was out yesterday, and missed the 200day,so had to jump in today at just above £54 with all my spare pennies.
Results looked OK to me.
I agree with fenners you can see what you want.
Hope your all well.
Cheers

[chachacha] 18/6/2024 17:28

Buybacks are de rigueur. Lazy auto management. Never works. Look at LLOY, VOD, GSK and all those FTSE100 boards pouring/wasting money into buybacks over the last few decades.

[bracke] 18/6/2024 14:02

Noooooooooooooooooo!!!!!