Share Name Share Symbol Market Type Share ISIN Share Description
Ashtead Group LSE:AHT London Ordinary Share GB0000536739 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  +6.00p +0.27% 2,252.00p 1,923,288 16:35:00
Bid Price Offer Price High Price Low Price Open Price
2,253.00p 2,255.00p 2,267.00p 2,239.00p 2,258.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 3,418.2 862.1 195.3 11.5 11,242.56

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DateSubject
23/6/2018
09:20
Ashtead Group Daily Update: Ashtead Group is listed in the Support Services sector of the London Stock Exchange with ticker AHT. The last closing price for Ashtead Group was 2,246p.
Ashtead Group has a 4 week average price of 2,175p and a 12 week average price of 1,878.50p.
The 1 year high share price is 2,441p while the 1 year low share price is currently 1,523p.
There are currently 499,225,712 shares in issue and the average daily traded volume is 3,176,014 shares. The market capitalisation of Ashtead Group is £11,242,563,034.24.
01/5/2018
10:39
ianwwwhite: Good morning bracke Thanks for posting your 'big chart' links for AHT, H&E, & URI At first glance, the share price profiles for H&E and URI look very similar, but there is a noticeable divergence in the case of AHT which commenced in August 2017. I have overlaid the graphs for AHT and H&E for comparision, (The lower indicator in the graph is the % compare trend). : Both H&E and URI initially saw considerable price gains against AHT, but more recently losses, and seem again to be converging with AHT. Why? I have no idea, but it seems it would be wrong to assume that URI, H&E and AHT always proceed in lockstep, possibly because of their individual product mixes/markets, currency fluctuations etc. What are your thoughts?
19/4/2018
18:33
ianwwwhite: RNS: Re Investor event and trading update Ashtead Group plc is holding a two day investor event in New York commencing today, April 19, 2018. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Interested to see what impact this has on AHT price action in the coming days after a recent promising AHT price run faltered today. In the meantime, thanks as usual to bracke for his graphs and commentary over this is period, much appreciated.
27/2/2018
15:49
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!
14/2/2018
11:47
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! :-) .
11/1/2018
17:46
davidcar7: Before Christmas I said that I had written to Geoff Drabble to let him know that I personally would prefer the Company to have increased dividends and reduced borrowing rather than buy back shares. I promised to share any reply I received from him with you -I am delighted to have received a reply this week which was held up in the Christmas mail as it was dated 18th December! Although he has not directly answered my suggestion of higher dividends he has given his thoughts on the subject of buybacks. I quote as follows: Our priorities remain fleet growth and small bolt on acquisitions as we gain market share and improve margins by leveraging the fixed cost in our now extensive depot platform. Clearly this is designed to enhance earnings per share and therefore the share price. We also find ourselves highly cash generative and even after funding these plans, unless we make further investment, our net debt to Ebitda leverage would begin to fall well below our target range of 1.5 to 2.0 times. The big question I guess is, whether this is desirable or not? Well this really depends on our outlook and where we are in the cycle. Currently, our outlook is very positive and we anticipate multiple years of moderate growth. Therefore, we are happy to operate within our longstanding range. It's my belief that by allocating £500m (which would otherwise only be used to delever) to reduce the share count and hence improve EPS, is a sensible approach. As it happens ,from a multiple perspective I do think we are undervalued and having the discipline to recognise this rather than potentially pay inflated multiples for large M&A is a sensible low risk approach to growing the share price. Also , as our cash flow is better understood, I do think there is a chance that we also get a re-rating - but who knows. So will we spend £500m or £1bn? I don't know! We could spend £1bn but only if there is an absence of good organic growth opportunities and/or M&A. However be assured we will always be disciplined in our leverage, remaining within guidance and will constantly reassess what constitutes value. I hope this helps. Of course, there is judgement involved but it is made with a clear understanding of the parameters in which we should operate and a focus on long term share price appreciation. It may surprise you to hear that I was anticipating your letter. I do regularly read a range of share blogs to gauge reaction to what we do and suspect you may participate on AdVfn. If I am correct, thank you for your continued interest in Ashtead and I trust your other investments are as successful. Please pass on my best to all others involved. I don't agree with everything that's written, particularly recently, but it is of great interest and has been for over 10 years. I appreciate the trouble Geoff has taken to reply to me and thank him for it.
14/12/2017
19:46
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.
14/12/2017
17:41
ianwwwhite: One final thought on the share buyback rationale.... If AHT price continues to fall, and AHT continue to be very cash generative, this might make us a tempting target for any predatory competitor. Any retained cash pile would of course help defray some of a successful aggressor's costs of the deal as well. Could the share buyback supporting the share price be a defence mechanism for AHT? ..... just a thought :-) .
23/10/2017
19:18
fenners66: I think that shorting is fine. It is no different to selling shares because you have made a profit and think the share has reached the top. When you sell a share at the top of its run , just as it turns around and drops 15% do you shed a tear for the poor fellow (mug) who bought them off you? Do you secretly (or perhaps not so secretly) gloat that you got that one right and then wonder if it falls back some more will it be a buying opportunity? No one cares that, that fall may have triggered the stop loss of the fellow that bought them off you. The biggest case of shorting I have seen is Carillion where over 20% of the shares were shorted - mostly from over £3 whilst the company continued to preach in their glossy huge accounts book that everything was fine. Shorters took very large positions on the basis that they knew more about the business than the directors did. Not that they knew more about the share price prospects or that they could influence them - but that the business was a basket case despite the directors reassurances. The FD reported everything was fine at the AGM and 2 months later announced £850m of write offs ! Suddenly the share price then collapsed and the shorters were in serious money - but they took the same ( arguably greater risks) than the longs and it paid off. Sure the share price had a gentle decline during the last 2 years - but its was the announcement that the truth was out and 5 years profits were mistaken that killed the share price and the holders. Since that incident I have added short tracker to my browser favourites and I will now check the short position prior to any buys. I had been wondering about buying some CLLN I am seriously glad I didn't.
02/8/2017
09:55
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.
17/7/2017
14:45
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 Group share price data is direct from the London Stock Exchange
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