Ashtead Share Discussion Threads

[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!.

[disc0dave46] 25/4/2024 14:22

Caterpillar Q1 profit beat expectations but sales slipped. Pre market share price is down.

[perfido] 25/4/2024 13:41

At the risk of tempting providence, it seems to me that AHT is steadily progressing, and will probably reach a decision point soon.

The next major event is the Q4 and year end results announcement on 18th June, which hopefully will consolidate the recent progress.

I hope that the lack of postings here recently does not imply that apathy has set in?

[bracke] 22/4/2024 18:45

And put the brakes on after filling the gap.

Looking to the left of the chart note support at the Fib (5566).

As I type the US market is moving up so maybe another gap up tomorrow. (Everyone cheers).

AHT DAILY

[fenners66] 22/4/2024 17:32

New Gap filled....

[dcarn] 22/4/2024 15:15

Capital Markets day next Monday, 29th, when Sunbelt 4.0 will lay out the plans for the next five years.

[disc0dave46] 22/4/2024 15:07

Good afternoon Mr bThanks for the "gap analysis".Think Caterpillar report this Thurs.

[bracke] 22/4/2024 13:38

The gap at 5588 filled but a new gap this morning at 5558.

US 1st qtr earnings this week including some of the big 7.

AHT DAILY

[bracke] 16/4/2024 12:36

5700 failed to hold but has not tested the 23.6% Fib at 5566.
New gap down from yesterdays close at 5700.

AHT DAILY

[bracke] 15/4/2024 14:30

The share price is currently supported at 5700 (5698 on chart).

Irrespective of the Iran/Israel situation the RSI suggests 5700 is unlikely to hold. 5566 is next support zone.

AHT DAILY

[bracke] 11/4/2024 13:28

Good day palwing

"A drop to make it an attractive buy...you tease!"
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Yes I thought that would elicit a reaction but it is a muted one with just yourself commenting. Perhaps holders were stunned at the thought of a drop of the magnitude I mentioned.

Given the current US market does the share price appear to be a good buy or this there likely to be a better opportunity.

AHT DAILY

[palwing32] 10/4/2024 19:25

A drop to make it an attractive buy...you tease!

[bracke] 10/4/2024 15:23

disc0

I have come to the conclusion that Mr Powell either doesn't know what he is talking about or he is working to an agenda which is not truthful. I think he does know what he is saying......Given todays US data will he still be holding to 3 cuts this year, or perish the thought, does a rate increase hove into view!

In the meantime the share price has to drop in order to attain underbought status and become an attractive buy. A drop to fill the gap at 5312 would be a good start followed by a further drop to the rising channel lower support at approx 5200.

I'll get my coat.

AHT DAILY

[disc0dave46] 10/4/2024 14:51

Good day Mr bThanks for that, it was 66 yesterday, may have been 66.8 can't recall but definitely wasn't 70+.Did try a comparison earlier today but couldn't get the RSI to show on tradingview chart, don't know why. Anyway no great shakes as guess good old JP has put too much fuel on the inflation fire, muppet lol, so guess AHT isn't now anywhere near overbought :(

[fenners66] 10/4/2024 13:34

Sharp tick up and then the US CPI and it comes back down again !

[bracke] 10/4/2024 13:32

Good day disc0

I've been watching the Stock Charts and Trading View daily chart. The price shown on both is the same. SC RSI is 70.93 and TV RSI is 69.82 so very little difference. Why there is a difference I don't know. It maybe slight difference in settings or difference where they each take their feed from.

For my purposes a slight difference makes no difference.

I note the share price is attempting another breakout. Maybe better luck than yesterday when it was sent packing in short order.

[disc0dave46] 09/4/2024 19:20

Ps sorry on stockcharts type AHT.L