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AT. Ashtead Technology Holdings Plc

486.00
1.00 (0.21%)
Last Updated: 08:20:07
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ashtead Technology Holdings Plc LSE:AT. London Ordinary Share GB00BLH42507 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 0.21% 486.00 39,591 08:20:07
Bid Price Offer Price High Price Low Price Open Price
486.00 489.50 489.00 480.00 480.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 110.47M 21.58M 0.2699 17.97 387.75M
Last Trade Time Trade Type Trade Size Trade Price Currency
08:20:57 O 6,988 489.50 GBX

Ashtead Technology (AT.) Latest News

Ashtead Technology (AT.) Discussions and Chat

Ashtead Technology Forums and Chat

Date Time Title Posts
20/11/202408:34Ashtead Technology: Subsea Solutions550
10/1/202407:20Undersea Star9

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Ashtead Technology (AT.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
08:20:59489.506,98834,206.26O
08:19:41486.0088427.68AT
08:19:41486.007373,581.82AT
08:12:25485.009,08844,076.80O
08:11:07486.003781,837.08AT

Ashtead Technology (AT.) Top Chat Posts

Top Posts
Posted at 21/11/2024 08:20 by Ashtead Technology Daily Update
Ashtead Technology Holdings Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker AT.. The last closing price for Ashtead Technology was 485p.
Ashtead Technology currently has 79,947,919 shares in issue. The market capitalisation of Ashtead Technology is £387,747,407.
Ashtead Technology has a price to earnings ratio (PE ratio) of 17.97.
This morning AT. shares opened at 480p
Posted at 14/11/2024 11:29 by radderssandy
I am a new investor in AT. and will bow to others superior knowledge but I thought the company sounded pretty upbeat, in the September results, regarding the offshore side of the business.

Take, for example, the answer to the first question in the Q&A.

“As I said, the UK is a market leader in offshore wind. We are encouraged by the government's approach to the offshore wind market. They've increased the target on 2030 from 50 gigawatts to 55 gigawatts. What we would say there, is that the Rystad data that we're showing in these slides is based on 43 gigawatts. So you know, one of the challenges there is, how does the industry react to be able to put that level of infrastructure in play by the end of the decade, but we clearly see that as a growth opportunity for this business and very, very welcome to it”.

Slide No.13 is maybe worth a look at.

Agree the share price is frustrating, I’m already sitting on a sizeable loss (nearly 17%) and I’ve only been invested since the 24th October. My broker bought them, and for what it’s worth, he is bullish about their prospects.
Posted at 14/11/2024 10:14 by zho
>>Low oil prices = less offshore development due to CAPEX requirements being higher.>>

According to a 3/11/22 Simon Thompson article "In the mature oil and gas sector, the focus is on IMR and decommissioning".

If correct, wouldn't this mean that AT. would/could benefit from a weak O&G investment environment?
Posted at 12/11/2024 13:02 by 74tom
The market is pricing in the impact of what looks likely to be a sustained period of low global oil prices (Trump's 'drill baby drill' being the final nail in coffin).

Low oil prices = less offshore development due to CAPEX requirements being higher.

That means less work for AT.

Yes, they are somewhat diversified via renewables & decommissioning, but considering the market has been buoyant over the last few years, I think they will struggle to meet / beat expectations.

They also have major debt obligations now & the higher for longer rate environment won't help their EPS ambitions.

All IMO.
Posted at 31/10/2024 15:59 by chester9
One persons problem is another's opportunity. Let's see where this drops to with ACE settling in and Seatronics coming on board we are looking at a significant revenue increase, 50% FY24 and 40% FY25. If they make them fit and it works the share price will look very cheap. Stocko has them qualifying for Jim Slater principle always a good sign. Peg 0.7 ROCE 18 ROE 25.
Posted at 24/10/2024 08:41 by 74tom
Nice trade this morning, however this strikes me as a very risky deal.

You can review the Seatronics & J2 financial information on companies house;



In their last filed accounts, Seatronics stated that 'a landscape of a general increase in the oil price helped the company return to growth'

The first listed principal risk is that of a slowdown in the offshore O&G industries due to either falling oil prices or the broader energy transition

There is little doubt that the threat of Saudi increasing production in December is weighing on global prices and if oil does fall below $70 there will be a lot less exploration & development work for AT. to go after. Based on this risk, I'm amazed they have parted with £70m for companies producing EBITA of £9m last year.

That £70m increase in the RCF also has to be accounted for. In the HY accounts they disclosed that it cost SONIA + 2.25%, so 7.2% at present. So this deal will potentially cost over £5m per annum. And they are also going to spend a further £10m on fleet investment!

My guess is the retail investor push will soon die off, hedge funds will update their numbers and this will get pushed back down. If Saudi do proceed with their planned output increase in December then AT. could be in for a challenging 2025/26 IMO.
Posted at 12/9/2024 08:55 by eagle eye
Share price 592p this morning +10%.
Well done to anyone who bought sub 550p the last few days.
Posted at 02/9/2024 13:05 by carcosa
Simon Thompsons' take on it:


"...It also means that earnings forecasts are well underpinned, too. Deutsche Numis forecasts double-digit annual growth in earnings per share (EPS) to 36.5p (2024), 42.1p (2025) and 46.3p (2026), implying a current-year prospective price/earnings (PE) ratios of 18.5 could drop to 14.6 within two years. That’s not expensive.

Ashtead’s shares have performed well since I initiated coverage at 257p (‘Alpha Research: Profit from the great energy reset’, 9 September 2022) and the share price hit a record high of 893p after I last rated the shares a hold at 806p (‘This company’s share price has trebled and still has further upside’, 29 April 2024). The profit taking following the results is overdone. Hold."
Posted at 08/5/2024 16:09 by sogoesit
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.
Posted at 28/2/2024 09:44 by sogoesit
Yes, that tallies with the site published forecasts:
2022/2023 = 29.7/16 = 85.63%
2023/2024 = 37.1/29.7 = 25%
2024/2025 = 42.6/37.1 = 14.82%

More detailed EPS breakdowns:
2022/2023 - High: 30.5 Low: 29.2
2023/2024 - High: 38.2 Low: 36.3

Broker 12 month share price Targets:
High - 750
Medium - 695
Low - 615

Taking the share price Forecasts against the, say, 2023/2024 37.1p EPS then the implied P/E Ratios are:
High - 20x
Medium - 18.75x
Low - 16.58x

For a company growing EPS at over 30% historic and revenue at over 45% historic the respective awarded EPS PEG Ratios are:
High - 0.67
Medium - 0.62
Low - 0.55

Conclusion: significantly forecast undervaluations and buyers have been slaves to the highest share price Target, giving PI's a lot of arbitrage here over the "professionals" imv.
Posted at 19/2/2024 12:13 by slogsweep
Nice to see someone else using that metric. I'm a bit more conservative and use trend line growth rather than point to point. On that basis AT. share price is growing at 156% pa. and NVDA 874% over same period. But what also interests me is that the prospective PE of AT. is only about 25 whereas for NVDA its 59. I'm happy to hold both along with few others with similar share price growth.
Ashtead Technology share price data is direct from the London Stock Exchange

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