Share Name Share Symbol Market Type Share ISIN Share Description
Ashtead Group Plc LSE:AHT London Ordinary Share GB0000536739 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  61.00 2.41% 2,592.00 1,418,901 16:35:16
Bid Price Offer Price High Price Low Price Open Price
2,591.00 2,592.00 2,596.00 2,533.00 2,548.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 4,499.60 1,059.50 166.10 15.6 12,383
Last Trade Time Trade Type Trade Size Trade Price Currency
17:39:43 O 7,419 2,592.00 GBX

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Date Time Title Posts
29/1/202011:16Ashtead - Building on Powerful Rental Growth!57,623
04/3/201913:10Ashtead Group Q3 05/03/19 Preview-
28/9/201808:51Ashtead Group PLC _ ACTIVE INVESTORS CLUB (AHT.L)3
29/6/201720:52been a long time since we rock and rolled29

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Ashtead Daily Update: Ashtead Group Plc is listed in the Support Services sector of the London Stock Exchange with ticker AHT. The last closing price for Ashtead was 2,531p.
Ashtead Group Plc has a 4 week average price of 2,341p and a 12 week average price of 2,161p.
The 1 year high share price is 2,599p while the 1 year low share price is currently 1,744p.
There are currently 477,748,600 shares in issue and the average daily traded volume is 1,894,660 shares. The market capitalisation of Ashtead Group Plc is £12,383,243,712.
perfido: Fenners 2.5x more money to ex-holders etc ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Perhaps you could explain your logic? The average buyback price per share paid to date is substantially below the current market price, it would seem that sellers are the losers. Holders of course will gain from an increasing level of dividends, on fewer shares, sustainable across the cycle, and in due course share price appreciation, ie. we own more of the company (<> +10% at present). Leaving aside your aversion to debt, what's the problem, or did you buy AHT thinking it was an income share? .
bracke: From post 57419 "It's also worth noting that the Daily chart shows that the share price remains in the rising trend range." ==================================================================================== The share price pierced the lower trend line to-day but has moved back up to rest on it. It's held above this line for nine months so a close below it would be concerning. The rising £/$ doesn't help so best hope for a Labour victory.
ianwwwhite: Hi bracke and uppompeii, I am in complete agreement with both of you! By way of explanation I should explain I have retained the majority of my AHT holding (buy and hold), but thought that it was prudent to reduce the risk and re-balance my portfolio a bit (take some profits)as we have seen a decent rise in the AHT share price recently, hence this mornings modest sale. Why this morning? At 2300+ I was feeling a bit dizzy...
fenners66: ian - thats like saying if you don't like one of a political parties policies don't vote for them.... even if you like all of the others. No the answer would be advocate change to that policy. "Fact 2; Aviva’s misfortune does not mean all buybacks are bad, and the case cannot be made using just this one example" But it does mean you have provided a very good example of why they are. Share prices go up and down. Share prices go up on days when there is more demand than supply. Share prices go down when there is more supply than demand. If the only sizeable demand comes from a company doing a buyback and that exceeds supply, price can go up. But when that buyback ends it no longer has a material effect on the share price and very often the result of an artificial higher closing price after buyback, it stimulates supply followed by a fall. After all what criteria do investors use for buying shares ? Prospect of rising profits, rising dividends and therefore rising share price so as to make a gain or gain future dividend income - all to be weighed carefully against the opportunities elsewhere. The same criteria are not used for a buyback. For a start there are no alternative shares to compare to , the "investment" is limited to one share. The shares are most likely to be cancelled so there are no future returns to worry about. The EPS calculation (all things being equal) means a higher EPS - which often rewards directors through their bonus schemes (they think that is a no brainer). What is the point of a buyback then ? To artificially inflate the share price - but if its artificial it invariably comes down again. It removes cash from the balance sheet / adds debt. There must be stats available on what has happened to share prices post buyback - adjusting for real increases in future profits . That would tell a story.
ianwwwhite: fenners Re: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "Aviva share buyback programme, acquiring 119,491,188 shares at an average price of £5.02 - Aviva share price today? 417p " So you are saying they blew at least £101m overpaying for their own stock. You make a very convincing case for not doing buybacks! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ As often happens on these boards fenners, you are confusing rhetoric with reality. Fact 1: Aviva’s share price decline has resulted in a notional loss against the price the shares could have been purchased in the market yesterday of <>£101m as I pointed out Fact 2; Aviva’s misfortune does not mean all buybacks are bad, and the case cannot be made using just this one example Fact 3: In AHT’s case the figures currently indicate that the average price paid for buyback shares is less than the current market price – a notional profit, but my preference is to assess the benefits of the exercise once it has been completed in its entirety. (If you consider this data critical dyor!) Obviously, as has been said before, if you don't like the AHT buyback scheme, don't invest would seem to be the answer...
ianwwwhite: bracke Shortly after my earlier comment, I got the 'blue screen of death' syndrome, and had to reboot my PC. I don't know how you did it, I suppose Elite Gurus have mysterious powers, but please desist! As for the AHT share price, I no longer try to second guess this, it outran my expectations some time ago (and I'm not complaining!). I am content to just watch with awe and wonder!
ianwwwhite: God morning bracke From an investors point of view, current AHT share price fluctuations seem to be being driven by the wider market sentiment, so probably not much to say until the 3Q Results are announced on 6th March. In the meantime I'm still holding! :-) .
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.
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.
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!
Ashtead share price data is direct from the London Stock Exchange
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