ASHTF Stock Recent News

I maintain a buy rating for Ashtead Group stock due to sustained growth prospects and potential recovery in 2025 as macro conditions improve. ASHTF's Q1 FY25 results show strong revenue and EBITDA growth, driven by rental revenue growth. Near-term growth is supported by the end of industry strikes, while long-term growth is bolstered by increasing megaproject deals.

News that construction equipment contractor Ashtead Group PLC (LSE:AHT) is bringing in WestRock alumnus Alex Pease as chief financial officer suggests that the FTSE 100-listed group is closer than ever to announcing a departure from the London Stock Exchange. Pease, who led the finances at WestRock until its recent merger with Smurfitt Kappa, intends to stay put in Fort Mill, South Carolina, where he will join forces with Ashtead's chief executive Brendan Horgan.

Construction equipment rental company Ashtead Group PLC (LSE:AHT) saw a 7% increase in rental revenue but declining profit before tax on a year-on-year basis in the first half. This was predominantly due to tighter margins in the US and Canada, only slightly offset by a margin improvement in the UK.

Ashtead Technology Holdings PLC (AIM:AT.) reported strong growth in revenue and profit for the first half of the year, driven by high demand in offshore renewables and oil & gas sectors.

Ashtead Group PLC (LSE:AHT), which reports results for the first quarter of its financial year next Tuesday, has seen its shares retreat around 12% from the two-and-a-half-year highs reached in April and May. Much of that share price slippage for the FTSE 100-listed, but US-focused construction equipment hire group was on the back of year-end results in June that were slightly shy of previous guidance the mark but delivered a disappointing outlook for the new fiscal year.

Ashtead has been a highly rewarding stock, up 153% in the past five years and over 6,000% since 2010. Ashtead is a leading player in the equipment rentals business, with a strong presence in North America. Ashtead's performance remains strong, with growth strategies in place and potential for expansion into new markets.

I remain buy rated on Ashtead stock. Share price fell recently due to customer bankruptcy concerns, but I don't think this is much of an issue. ASHTF benefits from industry consolidation, high construction demand, and strong balance sheet.

Shares in Ashtead Group PLC (LSE:AHT) are now down almost 4% on the back of this morning's fourth-quarter update. The results are "broadly in line with consensus", says analyst Edward Prest at Liberum.

Ashtead Group PLC (LSE:AHT) (Ashtead Group PLC (LSE:AHT)) declared a 5% dividend hike after reporting lower revenue growth than expected and a drop in profit for the past 12 months. The FTSE 100-listed construction equipment group also kept schtum on the subject of a mooted potential move of its main listing from London to New York - though directors will be quizzed on the subject on the call later.

Ashtead Group PLC (LSE:AHT) (Ashtead Group PLC (LSE:AHT)) full-year results are due Tuesday with the plant hire giant mulling whether it, too, should shift its listing to the US. Like peer CRH, which has already made the switch, Ashtead is effectively a US business anyway but its departure would be another blow to London's standing.