Ashtead Group (AHT)

Sector:

Support

Index:

FTSE 100

5,788.00p
   
  • Change Today:
    -14.00p
  • 52 Week High: 6,104.00
  • 52 Week Low: 4,694.00
  • Currency: UK Pounds
  • Shares Issued: 451.35m
  • Volume: 776,483
  • Market Cap: £26,124m
  • RiskGrade: 116

Liberum upgrades Ashtead to 'buy', hikes price target

By Michele Maatouk

Date: Friday 07 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Liberum upgraded equipment rental firm Ashtead on Friday to 'buy' from 'hold' and hiked the price target to 4,900p from 3,800p, "as government programmes kick in".
The broker said that given the rapidly moving macroeconomic backdrop, it has chosen a pair trade for its "best idea": long Ashtead, short Ferguson.

"The two are both fantastic companies with strong balance sheets, high returns and leading market positions. They are both gaining market share year after year, organically, boosted by bolt-ons.

"We prefer Ashtead as it is overweight in commercial and infrastructure building in the US, where any cyclical weakness will be offset by help from mega-projects and US government largesse.

"Ferguson is overweight residential construction (54% sales) which is weakening rapidly," it said adding that valuations are low for both.

Liberum noted that Ashtead's shares have de-rated from 28x forward earnings to 13x as the market's appetite for growth and cyclicals has weakened.

"Ashtead appears to have been punished for both characteristics," it said "During its de-rating, earnings estimates have improved by around 18%. Delivery of earnings in line with estimates should drive improved valuation from lows, while its growth characteristics might become more valuable if bond yields stabilise."

Liberum said the shares are quite sensitive towards confidence in US economic growth, "perhaps wrongly if the long pipeline of mega-projects in US non-residential construction does offset any cyclical decline in the coming year".

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Ashtead Group Market Data

Currency UK Pounds
Share Price 5,788.00p
Change Today -14.00p
% Change -0.24 %
52 Week High 6,104.00
52 Week Low 4,694.00
Volume 776,483
Shares Issued 451.35m
Market Cap £26,124m
RiskGrade 116

Ashtead Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
20.82% below the market average20.82% below the market average20.82% below the market average20.82% below the market average20.82% below the market average
26.67% below the sector average26.67% below the sector average26.67% below the sector average26.67% below the sector average26.67% below the sector average
Price Trend
45.72% above the market average45.72% above the market average45.72% above the market average45.72% above the market average45.72% above the market average
25.25% above the sector average25.25% above the sector average25.25% above the sector average25.25% above the sector average25.25% above the sector average
Income
84.47% below the market average84.47% below the market average84.47% below the market average84.47% below the market average84.47% below the market average
79.66% below the sector average79.66% below the sector average79.66% below the sector average79.66% below the sector average79.66% below the sector average
Growth
14.83% above the market average14.83% above the market average14.83% above the market average14.83% above the market average14.83% above the market average
21.74% above the sector average21.74% above the sector average21.74% above the sector average21.74% above the sector average21.74% above the sector average

What The Brokers Say

Strong Buy 6
Buy 10
Neutral 3
Sell 1
Strong Sell 0
Total 20
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ashtead Group Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Aug-24 11-Jan-24
Paid 10-Sep-24 08-Feb-24
Amount 89.25¢ 15.75¢

Trades for 31-Oct-2024

Time Volume / Share Price
17:32 15,706 @ 5,754.25p
17:32 1,992 @ 5,754.25p
17:32 45,293 @ 5,760.21p
17:32 20,885 @ 5,754.73p
16:39 210 @ 5,788.00p

Ashtead Group Key Personnel

CEO Brendan Horgan
CFO Michael Pratt

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