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I notice that the S.P. is shown as £52.50 on the company's website.
There is definitely something going on. Bid?
Strange movements in the share price this afternoon. 2 share price monitoring extensions were triggered when the price rose above £53.
...and on. I was trading this 10 years ago and then stopped for what I thought at the time was a better deal.
If only I'd....well, you know the rest.
6 months ago,people said it was overpriced, 5 months ago ,people said it was overpriced, 4 months ago....and so on......and today ?.. a new high. However, I'm getting a bit edgy now but again, like others, I thought that at £42. Keep going that's all I can say. :-))
I have to agree with you Matt. However, I've only reduced to 4% of my portfolio. I refuse to sell all of my holding in such a well run company. Will keep holding around the 4% level for the foreseeable future.
I agree with the correction potential, but I thought that at £42, so what do I know!!! Well done to all those who hung in there, but it does look a bit overpriced to me!
Interesting view from the charts . I am holding because I think the fundamentals of the business are great , namely the booming us economy and further stimulus promised. Interesting to see what happens.
I think this stock is due for a big correction because of following reasons:
Price is moving upward from the past 7 months and now has been above its 200 week MA by more than 100% (definitely an outlier)
Monthly Relative price strength i.e. RSI is 83 (overbought)
Volume is shrinking.
Strong pound would shrink the earnings.
....I meant to say that if it was limited to 5 or 10% then it wouldn't bother me. Lots more to come although I've been reading that Biden and the Republicans are still deciding on the infrastructure package.....but they're bound to aren't they. It's what governments do innit and it's a pain. Still, that's democracy for ya !!
...that level of correction happens to this stock then I'll be topping up again. Have fun everyone
Surprising to see AHT up so much considering URI was down over 3% yesterday and also down on Tuesday. But all good!
.happy days....or should that be daze !
Rock on.
United Rentals' leverage is even higher, so I think you just have to accept that these businesses are going to fund their fleets with debt.
For me, what's more interesting is that they are funding their expansion from free cash flow, so if they start hitting growth limits they will be in a position to greatly increase shareholder returns (see table 04 in the financial review).
I wrote to Geoff Drabble when the shares were less than half today's price about my concerns then. He kindly sent me a lengthy reply saying that he always welcomed feedback from shareholders and explained the company's position as regards capitol allocation priorities. He left the company 6 months later so I'm not sure he was totally convinced . Admittedly the price increase has been astronomical but the company nearly went under before it bought Sunbelt. I really do think they should be paying down debt.
It's something their previous CEO, Geoff Drabble, once said. He said that UK shareholders love dividends and hate buybacks and US shareholders love buybacks and hate dividends. So AHT do a bit of both, as their shareholders are split approx 50:50 between the two countries.
As for all-time high, if you look at the Capital Markets Day summary you'll find a section on the deployment of free cash flows. Within this, AHT demonstrate the effects of buybacks using an SP of £55.
They did pay down some debt during the pandemic. But financial and operational gearing have always been part of the AHT deal, so investors should know what they are getting into. Undoubtedly a long downturn would hurt.
Why should they need to keep their US investors happy? Buying back shares at an all-time high share price when they could be reducing their huge debt at all time low interest rates seems farcical to me.
Seen articles that indicate the new US infrastructure plans will give us a boost.
"Subject to ongoing shareholder approval, over the next two financial years the Group anticipates buying back up to £1 billion in shares."The buybacks are to please their US shareholders. £1bn will buy back about 5% of the shares at current prices. If the cash were used for divis instead, we'd get £1 per share in each of the next two years. Personally I'd prefer divis, but I suppose that AHT need to keep their US investors happy.
i have been following AHT since £1 ,never in my wildest dreams i thought they would reach £46,
wow, they nearly went under decade ago.
Once again, if the daily traded figures on here are accurate, buys heavily outweigh the sells as they have all year so far. The only thing I'm annoyed about is that I haven't loaded up with more....surprise surprise. LOL.
Hi all, a potentially interesting read for those interested in construction/ infrastructure companies in light of the Biden stimulus and other positive economic factors. Somero Enterprises. https://www.thetwentiestrader.com/post/somero-foundations-for-growth
...up and repeat.
Equipment rental firm Ashtead (AHT) has an opportunity to increase its market share in its ‘specialty’ division, says Jefferies.
Analyst Will Kirkness retained his ‘buy’ recommendation and target price of £54.00 on the stock, which closed up 3.4%, or 146p, at £44.73 on Thursday.
Kirkness honed in on the opportunities in the firms ‘specialty’ arm, which has seen the group move into portable power, disaster recovery and facilities maintenance.
‘Ashtead target 15% market share in the medium term, from 10% now, and $2bn of speciality revenues,’ he said.
‘We think market share could increase to 20% by full year 2031 and that the specialty business could be worth $5bn, or 35% of group revenues.’
Looks close to a peak, will recover, brilliant company all those diggers on building sites, look at fundamentals, I might take 5% profits for capital gains allowance, then hold until next dip, then buy buy again, difficulty is judging what constitutes a dip, or a peak........
bummer......:-(
...WOW.....it just gets better every day! I'm feeling greedy now but nervous.