Ashtead - (AHT)

cookie

Active member
We reviewed this stock several times on the old boards and I know there are a few of you interested.

Interims due on Monday 22nd.

If reporting to the good I see this one picking up pace with some good volumes and hopefully breaking resistance at about 137 and moving on to 170ish.

Anybody agree or think otherwise ???


Have a nice weekend.



Cookie
 

Riz

Experienced member
Hi Cookie,

Apart from the plenty of positive news posted in my earlier thread on AHT, they were recommended by Mark Watson Mitchell in Shares magazine.. he reckons they'll hit £2.00 for 2001....

I think it was last week Beeson Gregory said Ashtead shares should double..it's worth to note that they see the value AHT's existing business as 109p but they add another 130p of value to come from expansion and increased operational efficiencies...

If the results turn out to be anywhere near near the forecasts by house brokers, they might head for £2..

I personally think the one-off costs of the US acquisition will limit the increase in both profits and EPS...

So overall it all depends on the result..if positive next resistance 138 which will most likely be broken through, no serious resistance from there up to 170ish..if negative soon back to 100-110 support which I doubt will hold..

I did buy a small amount just in case and intend to top up if the results come out positive on monday...

Have a look at this thread if you're seriously interested to get in:
http://www.investorevolution.com/cg...n&Number=26995&page=&view=&sb=&vc=1#Post26995

good luck..

rizgar
 

Riz

Experienced member
AHT announced its results for the six months to October 31... Pretax profit came in at £30m (£26.6), earnings per share at 8.5p (7.09). down -11 to 115...
 

Riz

Experienced member
strange...

Ashtead Group (AHT)

From citywire:

Interesting how the stock is off a penny at 123/127p - despite the plant hire company says it has an impressive start to the second half, with overall revenues up 87%, like-for-like. With about 40% of revenues and profits being derived from the US, the concern is likely that no one really knows where the US economy is heading.

The company proclaims, however, that 'future prospects in America for Ashtead have never been better.'

These interims merit closer study, however the rationale for Ashtead has been well articulated by several bullish brokers. I have sat on the fence and not bothered to talk about the stock, having seen where enough plant hire companies go in an economic slowdown. Ashtead seems mired at about 125p and I wonder, if these interims won't spur it - what will?

Herald
 

cookie

Active member
Hi Riz

Nice to see you back.

Nice Ramp - I remember you liked this one.

It appears analysts are concerned about increased competitive conditions in the UK and fear for future earnings.

Chairman Peter Lewis said that the drop in price was due to people who had 'misunderstood the numbers' who were looking at the £8.8mln profit and not the adjusted figure of £30mln which was at the top end of analysts forecasts.

Price has popped up from 117 to 120 today so far with good buying but charts suggest that having broken 122 its 100 next stop.

A little harsh I fear what do you think??


Cookie
 

Riz

Experienced member
Hi Cookie..

I don't think AHT is heading for 100..there are a few more support levels on the way down there...besides although the results didn't spike a rally they didn't spike a sell off either..AHT is holding well and just about to form duble-bottom around the current level..if this support holds with all this positive recommendations watch them go up..I am in and holding a small amount by the way..good luck

Another thing, I just missed to get in AGS with a big amount of cfds at 125 today, I was held because advfn went down and I couldn't follow them on L2..still watching them very closely, the support level I anticipated held well and started bouncing from there..good luck again

cheers

rizgar
 

Riz

Experienced member
Up 1 to 117.5 today..
Also retipped in today's Investors Chronicle saying "Ashtead enjoys a solid long-term position. Keep buying"...
 

Riz

Experienced member
+1 to 114..price bouncing back from the lower BB..stochastics at the oversold area...RSI ticking up..we still need the price to cross 118-119 resistance level thus breaking 2 others on its way up to feel safe as to a recovery might have started...

rizgar
 

Riz

Experienced member
Up today +4 (3.5%) to 118..bottom (that I suggested to be watched in my earlier posts) well formed right on the lower BB at 113..bouncing back up from that point on..big volume spike..charts shaping up nicely..stochastic K headed up and just about to cross over D at the oversold area...RSI, MFI, OBV all heading up...all signs suggesting that AHT is on the way to recovery...provided that the price is not pulled back from this level, AHT will soon be well over 130..

good luck to those of us already in

rizgar
 

Uncle

Established member
Candlestick Chart

Today a rising window occurred. This usually implies a continuation of a bullish trend. Other Indicators agree with Riz
 

Riz

Experienced member
slowly approaching 130..

Up +2.5 (2.0%) to 126 today AHT slowly making its way to 130...though it still has got a couple of resistance points in the way up..once these are broken we may see AHT testing strong resistance at 137-138 which might open the way for further big bounces...

Chart still looking bullish with the price haveing touched and bounced from lower BB heading up for upper BB which is around 130 at the moment...a possible retracement might start from that level...although the stochastics and OBV are flat at the moment, MFI and RSI still ticking up at 50 indicating the continuity of the upward movement for the time being...

Let's keep watching AHT..

What's your position, cookie?

(no financial advice intended)

rizgar
 

cookie

Active member
Profit !!!!

Closed today @ 124 ( Bought 10k @ 119.50 )

The way the market is at present Riz I'm banking at every opportunity. I can always get back in when we see a bit more volume.

Good luck


Cookie
 
Good for you, cookie.
Keep on banking.
Steve
 

Riz

Experienced member
UP

There we go up +5.5 (4.4%) to 131.5…amid news of grant of share options to the directors AHT is steadily heading up to record new year highs…broke over the upper BB…stochastics at the overbought area… might retrace soon… RSI and MFI still being up and optimistic comments on the US economy from Fed chair Alan Greenspan refer to more upward movement before retracing though…whatever it looks like AHT will be on its way up for some time…

rizgar

(no financial advice intended)
 
New Broker forecasts

New Brokers forecasts

Two new brokers forecasts published today on Hemscott

ING Barings recommendation ADD 2001 pretax @ £55m eps 15.3p
2002 pretax @£63m eps 17.6p

Seymour Pierce recommendation H/B (hold/buy?) 2001 pretax @ £56.1m eps 15p
2002 pretax @£65.5m eps 16.8p

Regards Matt
 

Riz

Experienced member
resisting the downtrend...

AHT resisting the current negative market sentiment still at 126..in the mean time advised Strong Buy by Mark Watson-Mitchell who says AHT appears severely undervalued after buying Rentokil's BET US rental operations...

rizgar
 

Taimur

Newbie
Nice to see some interest

Good to some some support for AHT over here and to see a link to one of my threads elsewhere! ;)

The price has held steady in these times of turmoil and US recessionary fears, but the spread has been ridiculous.

Noe predictions though on the outcome for any shares over the next 6 months.

Taimur

[Edited by Taimur on 27-02-2001 at 09:59 PM]
 

Riz

Experienced member
welcome

Welcome aboard, Taimour...we've been following AHT for some time and will certainly appreciate your contributions to this and other threads... just don't play the Set too loud.. :)

rizgar
 

Riz

Experienced member
AHT looks worth to rewatch...

I and Cookie (who hasn't been around for a long while, it's not like him to disappear without saying bye, hope everything is ok with him) enjoyed riding AHT a couple of times...

They've started a new upward channel...had a look at the chart and indicators today...price seem to be bouncing between upper and middle BBs...stochastic K ticking up and crossing over D...RSI, OBV and MFI all ticking up...

Usual brokers BUY advice with a price target of 200 still around...

Looks like the price is heading to break the major 120 resistance to consolidate between 120-130 before heading for the ultimate target of 200...a few other resistance levels are on the way though...

No positions on them but I'll be rewatching AHT...

Riz
(no financial advice intended)
 

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