Ashtead Technology Share Discussion Threads

[tomg23] 14/6/2024 13:18

Love the captain hindsight comments after a 30% fall in the share price.

[grahamhacker] 14/6/2024 12:45

Have just topped up!

[grahamhacker] 14/6/2024 12:43

They have many operations around the world, but I can't find any financials giving geographical split....

[74tom] 14/6/2024 12:10

Seems fairly obvious that a ban on new O&G drilling will have a negative impact here, it's certainly going to create uncertainty around the medium term outlook...

[chester9] 14/6/2024 11:23

I wonder how much it is fear of labour, which is looking inevitable. Results in sept perhaps a TU might help. They triggered my stop at 7.63 but I was looking to buy back when closer to results.Wait to see post general election.

[zho] 14/6/2024 10:27

He needs to prod a bit harder!

[bigbigdave] 13/6/2024 14:30

Think we may have a short term bottom in.

[johnrxx99] 12/6/2024 08:31

agreed So. London has lost it's mojo and any firm looking at growth will go to NY. However, it gives us a chance to buy and meanwhile wait for news.

[sogoesit] 12/6/2024 08:11

Yes, shame about the lack of faith, or "short-termism", of this London market.
Leastwise, I hope that is the underlying issue... but maybe I'm missing something.

A 20% drop implies a "bear market" correction and I don't see any fundamental cause for that so it must be sentiment or lack of faith (expectation).

I read that, on 06/06, Stifel raised its TP to 900 from 770... hmmmm.

(Rumours that its bigger "brother", Ashtead Group, plan to move its listing to NY).

[chester9] 10/6/2024 13:46

They are a good company but no acquisitions for a while to drive future revenues so they look full value. The board hinted at possible purchases but to date nothing. In addition it looks highly likely labour will be in power in 4 weeks time. Not sure that's good or bad news for AT but it is change. No scheduled updates to August.

[bigbigdave] 09/6/2024 15:26

Looking well oversold and a great point for a bounce.

[johnrxx99] 05/6/2024 08:53

We seem to have reached a point were news is needed. I suspect we will dribble forward for a while as the market waits for IR news.

[bigbigdave] 05/6/2024 08:30

Could do with some news, boredom setting in with some investors.

[bigbigdave] 28/5/2024 10:29

AGM this coming Thursday, don't usually issue a trading update but who knows?

[johnrxx99] 09/5/2024 04:13

Interestingly, on Sharescope, AT. and W7L have the same foreward peg of 1.6. I hold both but AT. is my largest holding.

[sogoesit] 08/5/2024 17:09

Thanks,
Yep, that's low-ball.
The share price growth trend rate from IPO (Dec 2021) to October 2023 was about 50%pa.

It then broke-out and then there was a further displacement upon the ACE Winch acquisition and it consolidated between 01/12/23 and 24/01/24.

The share price then entered a new trend from a low of 572 on 12/01/24 to today at 825. This trend rate is about 200% CAGR. FFS!

Lets also be conservative and by awarding it a PEG of 1 at the old share price growth rate of 50% thereabouts. The forward P/E of 22.5 is thus 0.5 or thereabouts.
Thus significantly undervalued!

The other comparator is W7L which, until 18/04/24, was also in a growth trend rate of 50%.
But on recent results its 18p EPS, up 123% y-o-y, means it now trades, at share price 460, on 25x P/E.
Also undervalued.
But I think AT is the winner here... for the time being. Unless W7L rerates.

[johnrxx99] 08/5/2024 15:40

Projected PE 22.5 - Sharescope

[sogoesit] 08/5/2024 14:22

Cheers...
I make all forecasts, consistently approx. 14% pa underlying EPS growth, to be one year adrift. So I make FY24 to be about 40/42p versus 37.6p.

What's the consensus forward P/E... anyone?
What will you pay for this?

I think analysts are low-balling. Still, they're paid and I'm not.

[carcosa] 08/5/2024 06:30

Updated Analyst Forecasts:

[sogoesit] 07/5/2024 18:49

Someone bought 54,613 shares at 16:35 at 847p

[bigbigdave] 07/5/2024 16:43

WOW! What a close! News coming?