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 Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  46.00 2.02% 2,323.00 2,323.00 2,325.00 2,333.00 2,274.00 2,278.00 864,679 16:29:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 4,499.6 1,059.5 166.1 14.0 11,098

Ashtead Share Discussion Threads

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DateSubjectAuthorDiscuss
05/2/2019
10:41
It didn't stay at £20 very long did it. I expect this mornings gap to fill in the short term. If/when it does break above £20 the swing high at £20.65 is the next target.
bracke
05/2/2019
10:26
lol!.... not likely, but I think I spotted a gap this morning :-)
ianwwwhite
05/2/2019
09:12
Gap to 24 quid here?
bigbigdave
05/2/2019
09:00
Looks like the venerable Mrs B's AHT investment has just about broken even, and with the dividend payable tomorrow, may even be showing a modest profit. OK bracke, it's safe to come out now.... :-)
ianwwwhite
30/1/2019
16:44
fenners, thanks for clarifying your thinking, much appreciated.
ianwwwhite
30/1/2019
16:21
ian - I am not in any way suggesting that AHT and URI act in concert ! Its just that as URI is still bigger they too will have leverage from scale to lean on the likes of Caterpillar. I was merely trying to illustrate that the negotiation tactic is one of those economies of scale - and as you say there are alternative suppliers and with sufficient scale comes the threat of switching suppliers - or indeed if you like the carrot of offering to switch to them in order to effect greater discounts. At a certain size one might want to stick with a supplier on the basis of knowing how their machines work and how to keep them serviced and in common parts. However when you get large enough you can reach that critical mass with multiple suppliers and its important to retain the stick of alternative suppliers to beat the others with.
fenners66
30/1/2019
16:00
Good day uppompeii and ian Mater has complete faith in my investing abilities. She is fully aware that investing is not trading and takes the longer view. AHT has done well to rise from 1600 but requires something special to take it up to the forecast £25. I am a concerned about the gap left to the downside at 1870. Todays gap has filled. There is another gap at 1700 but I regard that as a breakaway. Perhaps if Mr Trump can come to an agreement with China it will provide the necessary impetus to achieve a breakaway gap.
bracke
30/1/2019
15:13
We haven't seen much of bracke recently round here, could he be avoiding mater? In the meantime in his fleeting visit here earlier, he mentioned a 'gap', which seems to have banjaxed what was a decent rise in our share price earlier...
ianwwwhite
30/1/2019
14:52
Is mater still unaware of the shenanigans of the last month bracke?
uppompeii
30/1/2019
14:18
Fenners Interested to read your comments, with which I am broadly in agreement apart from a couple of points. Frankly I would be surprised if URI and AHT as competitors would act together in concert on negotiating buying terms. It is worth remembering that AHT source equipment from a number of suppliers, John Deere, Case and JCB for example. This might provide more leverage in negotiations. 'Leaves no cash for buybacks tho'!' - on the contrary, according to the latest Capital Allocation Plan (Q2 results), there would seem to be ample headroom to accommodate all three imperatives: 1. Organic growth £1,063m invested in business, 47 greenfield sites opened 2. Bolt-on acquisitions, £362m spent on bolt-ons 3. Returns to shareholders: ......Interim dividend increased 18% to 6.5p per share ......Completed £425m of original buyback programme, with a total of £675m anticipated to be spent under December 2017 programme  Minimum of £500m to be spent on buybacks in 2019/20
ianwwwhite
30/1/2019
14:08
Thanks Ian....Don't know then! Lol
discodave4
30/1/2019
12:03
If AHT/URI are smart they will use their size and buying power to negotiate harder. If Caterpillar get it out to the market that prices are going up then those who still buy their own equipment - may try and beat the rise at first but then perhaps be more inclined to rent instead - which is structurally where the US market has been going for years anyway. Then since AHT and URI have grown market share and if the market itself for rent rather than buy continues to grow - they go back to the likes of Caterpillar and leverage volume discounts and negate the rise altogether. Caterpillar then have actually helped drive the change to rent and not increased their prices very much ! However 1-4% price increases may not be so noticeable - yes 4% at the top end on an expensive dozer perhaps - but across the range ? Does bring me back to the fundamentals of why AHT still has room for growth 1 - market of rent rather than buy is continuing to mature and develop 2 - US infrastructure projects should see construction market still growing 3 - AHT continues to grow organically 4 - AHT continues to grow by acquisition..... Leaves no cash for buybacks tho' !!
fenners66
30/1/2019
11:49
Yesterdays volume is interesting. It was well above the average but moderate range. BTW that's another gap this morning, just thought I'd mention it.
bracke
30/1/2019
11:06
Hi DD I see it a little differently, the impact of the rental rate hike will likely hit new hire deals immediately,in the absence of existing contractual commitments and roll forward quite quickly, if the market is amenable. The increase in equipment replacement costs will probably be gradually spread, over the residual lifetime of the existing equipment which on average is relatively young. Cost of maintenance spares will likely rise sooner. Hopefully we may know the impact on the accounting metrics better, when the future AHT outlook is published with the Q3 results on 5th March 2019?
ianwwwhite
30/1/2019
10:15
Morning Ian, wouldn't disagree. I was thinking shorter term as guess the Capex hit is immediate whereas the return on capital isn't, utilisation never 100% and guess return on capital takes at least 1.5-2 years? (guessing not looked so apples if wrong).Have a good day.
discodave4
30/1/2019
08:54
Good morning DD ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ..CAT increasing their prices could help revenue but not Capex - ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Now you've got me baffled! Surely if the cost of equipment rises (capex) and the rental rates are increased to compensate (revenue) the the effect should be pretty neutral. As the buyback is part of the Capital Allocation plan, after acquisitions, dividends etc it seemly has no relevance here unless the company proposes to absorb the increased costs to the detriment of free cash flow and profit. On the subject of the buyback I note that when URI paused their buyback recently they were lauded as setting a fine example on this board, strangely now URI has restarted its buyback, it has passed without a single comment. :-)
ianwwwhite
29/1/2019
18:24
Thanks Riley. Guess it depends if URI hike up rental for more expensive kit and AHT then follow suit or don't and take market share - that was my point really, CAT increasing their prices could help revenue but not Capex - trim back on the buyback (ssshhh).DD
discodave4
29/1/2019
17:13
What they do is buy a rake of plant from a manufacturer and use it for at least 3 months before they pay for it and they won't be able to stick their prices up because they will be frightened of losing out to their competitors.They usually try and stick a bit on the bill for damage,sometimes they get away with it and sometimes not if the customer is on the ball.
riley109
29/1/2019
14:12
Thanks Ian....too kind. Suppose what I meant was I wouldn't be able to work out what it may do to their bottom line etc.
discodave4
29/1/2019
13:54
DD you're too modest, your 'accountancy' comments, and those of fenners hit the nail on the head IMHO. Happy days!
ianwwwhite
29/1/2019
13:45
Thanks fenners.Guess it encourages companies to rent more though than buy.DD
discodave4
29/1/2019
12:57
May pass through to improved second hand values - but I guess these go to auction and it probably depends more on the demand on the day. May have a negative impact on others buying new - so improve the rental market - but of course when AHT wants to replace kit they will have to spend more - or negotiate harder.
fenners66
29/1/2019
11:57
Morning Ian, thanks.Wonder if AHT will pass on extra costs (1%-4%) to customers or gain market share?, will value of existing plant increase and extend rental life and utilisation?, how will it Impact on their Capex programme?.............buyback?......ssshh.No accountant so clueless really.
discodave4
29/1/2019
09:18
Good morning DD, Thanks for the link, an interesting Read.
ianwwwhite
28/1/2019
10:27
Good morning DD, I don't think it was all about the wall, despite what they say, there are wider considerations, not least the eroding/chipping away of Trump's support base by the Democrats, and effectively a power struggle between the Demo and Rep parties. Next years election preliminaries have already started ... more to come?
ianwwwhite
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