Ashtead Technology Share Discussion Threads

[bigbigdave] 25/4/2023 07:10

Results 3rd May then.

[bigbigdave] 13/4/2023 08:40

Nice and firm in recent weeks, hopefully a sign of decent results.

[zho] 12/4/2023 11:37

>>Do think they really need to get their full year accounts out sooner than early June this year>>

AT. IR have told me that they hope to announce FY 2022 results during the week after next.

[podgyted] 02/4/2023 09:51

Looks like Thursday if they follow last year.

(Do think they really need to get their full year accounts out sooner than early June this year)

[bigbigdave] 01/4/2023 08:25

Trading update due in April going on last year.

[zho] 06/3/2023 10:42

From Citywire on Friday:

Berenberg: More scale to come from Ashtead Technology

Berenberg believes Ashtead Technology (AT) is well liked by investors but there is further scope to scale up the subsea equipment rental group.

Analyst Robert Chantry retained his ‘buy’ recommendation and target price of 405p. The stock gained 1.7% to 303p.

He initiated coverage at the beginning of February and has since spoken with more than 80 investors about the stock.

‘A majority believe that the combination of a supportive energy market backdrop and exposure to the offshore renewables market should underpin strong organic growth, with high margins, the potential for additional [mergers and acquisitions], and a strong management team ticking a lot of boxes,’ he said.

However, he said there were ‘pushbacks and questions’, mostly around energy markets, the degree of demand cyclicality, and the propensity to rent rather than own equipment in the space.

‘Overall, this feedback suggests the company is well liked by investors, but there is further to go in terms of the scale of the business and in the articulation of the investment narrative,’ he said.

[mammyoko] 06/3/2023 09:45

Strength on small volume ahead of further placing?

[bigbigdave] 04/3/2023 07:50

Back above recent placing price, nice :o)

[volsung] 03/3/2023 18:59

He rising from the depths the boy
Like an ancient Greek diver for pearls
Ha ha

[volsung] 01/3/2023 08:35

This boy he diving subsea
No matter my seamates
I have plans to buy more

[zho] 13/2/2023 11:36

Steady buying this morning, perhaps because of positive comment from SCSW this weekend, their first piece on AT. since a 'buy' recommendation in December 2021.

[tenapen] 13/2/2023 10:23

Website Updated;

[x54v] 09/2/2023 14:58

(Alliance News) - BERENBERG STARTS ASHTEAD TECHNOLOGY WITH 'BUY' - PRICE TARGET 405
PENCE

[tenapen] 31/1/2023 14:22

I haven't compared Maritime Robotics with iXblue .... Yet. Could MR be filling the hole left by iXblue ..... If that is what has happened!. I have yet to read anything about Ashtead relationship with iXblue since iXblue merged with ECA Group to become the competition.

Question, will Ashtead get paid back the significant sums of money they have invested in iXblue ?.


tenapen6 Dec '22 - 17:05 - 48 of 66 Edit
0 0 0


It looks like a perfect fit and another local company.

I would like to know what the relationship is now with iXblue since they merged and became the competition!.


ECA Group
& iXblue
Exail was formed as ECA Group and iXblue joined forces in 2022. We are now a leading high-tech industrial champion specializing in cutting-edge robotics, maritime, navigation, aerospace and photonics technologies. Together, we employ a workforce of 1500 people worldwide and achieve an annual turnover of €250 million. With our unique offer ranging from components to complex systems, we support our customers for their critical missions in severe environments.

[bigbigdave] 31/1/2023 10:40

International subsea rental equipment and solutions specialist Ashtead Technology has signed a multi-year rental agreement with Maritime Robotics, a leading provider of unmanned technology solutions.

Under the terms of the agreement, Ashtead Technology will be a rental partner for Maritime Robotic’s Otter Unmanned Surface Vehicles (USVs) for high-quality maritime data acquisition.

[dicktrade] 26/1/2023 08:51

Any chance of ITRK bidding for AT. ??

[bigbigdave] 26/1/2023 08:33

Just for info Older son works as Marine Geoscientist for ITRK, business is crazy busy. It’s the area which Ashtead Technology supply the equipment for.

[zho] 23/1/2023 14:55

abrdn take 6.3%

[bigbigdave] 20/1/2023 12:47

Simon T of the IC backing AT, good to know

[x54v] 20/1/2023 09:53

"Once the dust settles from this week’s placing, I expect Ashtead’s share price to recover strongly, so much so that I am raising my target price from 325p to 375p, still below Numis’ upgraded target of 400p (from 380p). Buy."

[whittler100] 19/1/2023 16:41

I agree with Carcosa’s comments above.

A few quick scribbles on AT. placings

On the last two secondary placings. July 22 (10m shares placed @ 200p) & Nov 22 (4.8m placed @260p), on both occasions they were placed at around a 14% discount to the previous day’s closing price. Maybe it’s a sign of appetite for AT. that this placing was successful at only a 6% discount to yesterday’s (18/01/22) close price. The 18/01 RNS said “BP Bidco has indicated an intention to sell at least 11m shares”; it rather seems that the appetite for the share was strong as they actually placed 15m shares rather than the 11m; that’s the largest placing by some distance & interestingly at the lowest discount, 6%. Following this sale, BP Bidco will only hold 7m shares = 9% of co; so, the original pair that owned the AT. prior to flotation will be totally out shortly assuming we see another BP Bidco placing in the next few months post-lock-in period. IMO this is possibly a good thing making the stock easier to trade. Note the CEO placed 425k shares (previous to placing held 2.17m) & the CFO 35k shares (previous to placing held 301k)

Note: the CEO has some easy LTIP awards coming his way over the next couple of years 406k (almost matching his placing and the CFO 257k coming her way (IMO already money in the bank as the targets for the awards are in my view easy). So, both the CEO & CFO retain plenty of skin in the game with some LTIP to be awarded shortly.

So, was today a buying opportunity? In truth, who knows but IMO AT. has a touch of right time /right place about the business.

BP Bidco will almost certainly place again in the next few months once past the lock-in; so if AT. is still trading well, possibly another little buying opportunity.

Remember as Carcosa said above, there is no dilution and the number of shares in AT. is currently unchanged plus we should see improved liquidity.

[carcosa] 19/1/2023 06:12

Last time (Nov 9/22)
CoB Nov 8: 305p
Placing Nov 9 @ 260p (15% discount)
CoB Nov 9: 286p (-6%)

Today the Secondary Placing is at 310p representing a discount of 'only 6%' So not too bad.