ASHTY Stock Recent News

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.

Here is how Ashtead Group PLC (ASHTY) and Bouygues (BOUYF) have performed compared to their sector so far this year.

Ashtead has seen a strong price rise in 2023 so far, far outpacing the S&P 500 index. Its upcoming results could bolster it further. The construction equipment rental provider has already seen robust growth, and its outlook is healthy too. It also has a record of beating expectations.

HDSN vs. ASHTY: Which Stock Is the Better Value Option?

HDSN vs. ASHTY: Which Stock Is the Better Value Option?

Liberum expects the building materials and equipment hire sector to recover in 2023 with the rotation that impacted the sector in 2022 expected to reverse when inflation and interest rate expectations peak. The London-based broker sees strong labour markets, good infrastructure demand, and mega-projects in the US as mitigating factors in any potential downturn in demand.

Ashtead Group plc (OTCPK:ASHTF) Q2 2023 Earnings Conference Call December 6, 2022 5:00 AM ET Company Participants Brendan Horgan - Chief Executive Officer Michael Pratt - Chief Financial Officer Will Shaw - Director, Investor Relations Conference Call Participants Rahul Chopra - HSBC Annelies Vermeulen - Morgan Stanley Arnaud Lehman - Bank of America James Rose - Barclays Dominic Edridge - Deutsche Bank Allen Wells - Jefferies Karl Green - RBC Neil Tyler - Redburn Steve Woolf - Numis Securities Operator Hello. And welcome to the Ashtead Interim's Analyst Call.