ASHTY Stock Recent News

ASHTY, ATLC and BALL have been added to the Zacks Rank #5 (Strong Sell) List on January 15, 2024.

ASHTY continues to show positive growth traction, with revenue growth of 13% and rental revenue growth of 11% in the US segment. ASHTY has won 30% of mega project deals, which suggests to me there is significant long-term growth potential. Margins may face near-term headwinds due to early project delivery and utilization issues, but are expected to expand in the future.

Ashtead Group plc (OTCPK:ASHTF) Q2 2024 Earnings Conference Call December 5, 2023 4:00 AM ET Company Participants Brendan Horgan - Chief Executive Officer Michael Pratt - Chief Financial Officer Conference Call Participants Lush Mahendrarajah - JPMorgan Annelies Vermeulen - Morgan Stanley Will Kirkness - Societe Generale Arnaud Lehmann - Bank of America Allen Wells - Jefferies James Rose - Barclays Mark Howson - Dowgate Capital Karl Green - RBC Tom Burlton - BNB Paribas Operator Good day, and welcome to the Ashtead Group Q2 Results Analyst Call. Please note, this call is being recorded.

Ashtead (ASHTY) anticipates lower revenues and profits due to a quieter hurricane season and disruptions from the writers' strike.

Ashtead Group PLC (ASHTY) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Ashtead Group's rental revenue has shown strong growth, making it well-positioned to benefit from large mega projects in the US. The company's revenue increased by 19% in 1Q24, with notable growth in the US market. Ashtead's prospects in the Mega Projects business are expected to be a major growth driver, with the company doubling its market share over the past quarter.

Ashtead's stock price has inched up since I gave it a hold rating four months ago. It has released two sets of results in the time. Company performance continues to be healthy, with both revenue and earnings growth. Its market multiples also indicated some upside. However, there are risks from the continued drop in leading indicators from the US market and its own rental revenue has grown at the lower end of the guidance range too.

Ashtead Group PLC (LSE:AHT) is due to report first-quarter results on Tuesday 5 September and, since it has a large and booming US business, is likely to be questioned by investors and analysts about whether migrating its listing from London to New York like several others recently might be a good idea. Fears about London's status as a financial hub have taken a severe dent this year as many companies have switched allegiance, including fellow building services group CRH, insulation maker Kingspan and several others.

Investors with an interest in Industrial Services stocks have likely encountered both Hudson Technologies (HDSN) and Ashtead Group PLC (ASHTY). But which of these two stocks is more attractive to value investors?

Industrial equipment supplier, Ashtead, has seen an expected drop in share price. But does it mean a bigger drop ahead? There's no denying the company's robust fundamentals, but the US construction sector is facing uncertainties with a drop in leading indicators, tighter lending standards, and the US debt ceiling situation.