ASHTF Stock Recent News

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.

Ashtead Group PLC (LSE:AHT), the industrial equipment provider, is considering joining the London exodus by switching its listing to the US, according to reports.  Board members at the FTSE 100 group are concerned that the company, which operates largely in the States, is trading a "significant" valuation gap to that of its US rivals, the Sunday Telegraph revealed.

Ashtead Group PLC (LSE:AHT) fell over 8% in early trading after the industrial equipment rental firm said slow third-quarter trading meant revenue growth would be at the low end of expectations. Rental revenue growth in North America was constrained by longer-than-expected strikes by actors and writers, the FTSE 100 firm said in an update, alongside lower emergency response activity to natural disasters.