I here a whisper that Ashtead may become the target of a takeover bid. Anybody have any further news on this? I've been holding this little gem for a while now. Got in at 11.25p and then sold 2/3rds of my stock at 18p to break even. Can't quite decide when to take my mega profit. 1 by Christmas? Here's hoping.

Performing very well, another large buy after the bell

AHT

Taken a long position here (have a few tranches). Was on verge of a breakout (still is) and results on the 4th of September which could be rather solid. Might push it through the 52 week high.

Brokers well and truly behind AHT.

P/E of just 13.2 to 2013 and EPS rise of 35.7%

Rather cheap imo.

Ashtead Group PLC

FORECASTS 2013 2014
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Panmure Gordon [A]
27-08-12 BUY 160.00 20.30 3.80 180.00 22.70 4.24
Westhouse Securities [A]
23-08-12 BUY
Peel Hunt [A]
15-08-12 BUY 159.99 20.19 3.90 185.58 23.20 4.30
Seymour Pierce [A]
02-07-12 BUY 167.10 21.80 186.30 24.30
Canaccord Genuity Ltd
27-06-12 None 163.50 20.70 3.85 200.70 25.40 4.24
Numis Securities Ltd [A]
20-06-12 BUY 149.60 19.50
Investec Securities [A]
07-12-11 BUY 102.49 13.21 3.31 120.04 15.47 3.47

2013 2014
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 163.50 20.70 3.85 200.70 25.40 4.24
1 Month Change 0.00 0.00 0.00 0.00 0.00 0.00
3 Month Change 20.24 2.52 0.28 29.10 3.00 0.24

Notes to forecasts
(21 Jun 2012) A flag refers to outlook


GROWTH
2012 (A) 2013 (E) 2014 (E)
Norm. EPS 360.00% 35.77% 22.70%
DPS 4.78% 25.41% 10.13%

INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)

EBITDA £370.60m £m £m
EBIT £167.70m £221.00m £263.20m
Dividend Yield 1.12% 1.41% 1.55%
Dividend Cover 4.97x 5.38x 5.99x
PER 17.92x 13.20x 10.76x
PEG 0.05f 0.37f 0.47f
Net Asset Value PS 28.64p p p

Some Bullish Broker target SPs
for AHT..........

Ashtead Group Broker Views
Date Broker Recommendation Price Old target price New target price Notes

24 Aug Oriel Securities Buy 276.35 284.00 - Retains
18 Jul Oriel Securities Buy 276.35 284.00 284.00 Retains
18 Jul Jefferies International Buy 276.35 320.00 320.00 Reiterates
13 Jul Credit Suisse Outperform 276.35 316.00 316.00 Reiterates
13 Jul UBS Buy 276.35 340.00 340.00 Retains

1st Quarter Results


Highlights



· Record Q1 pre-tax profits1 of £61m, up 76% at constant exchange rates

· Sunbelt's rental revenue increases17%

· Group EBITDA margins rise to 40% (2011: 35%)

· Long-term debt refinanced giving significantly lower cost and longer maturities

· Board now anticipates a full year result materially ahead of its previous expectations



http://www.moneyam.com/action/news/showArticle?id=4438221

Excelent results.

Ashtead saw shares jump after saying this morning that full-year results will be "materially ahead of our previous expectations". Underlying profit before tax in the first quarter rose 82% year-on-year while underlying revenues gained 21%.

"Given this early stage of the recovery, we see further outperformance from re-rating as well as scope for further positive earnings surprises," said analyst Andrew Nussey from Peel Hunt.

Well done here chaps :-)

Dream day here on a rotten market day.

Broker view
Bhaven Patel, senior trader at Accendo Markets, said Ashtead's position at the top of the FTSE 250 on Tuesday morning comes as little surprise given the delivery of stellar results and extra sparkle with yet another rise in full-year profit guidance.

"The share price rise of +40% in the past year comes amidst uncertainty in manufacturing sectors around the world - however, given that companies are more likely to rent rather than buy expensive equipment, conditions have been well suited. If Federal Reserve stimulus measures and US election promises are made to boost industrial production Stateside, there may be no stopping the realisation of the 'American Dream' for the UK company," he commented.

Analysts Paul Jones and Mike Allen at Panmure Gordon held their 'buy' recommendation and upped their target price from 317p to 344p. Meanwhile, Jefferies lifted its target from 360p to 320p as it maintained its 'buy' stance

Ashtead Chairman buys shares after Q1 results
By Benjamin Chiou

Date: Tuesday 04 Sep 2012


Chris Cole, the non-executive Chairman at plant-hire group Ashtead, raised his stake in the firm on the same day that the company revealed it would beat its initial forecasts for the full year.

Cole purchased 30,000 shares of the FTSE 250 firm at 315p each for a total of £94,500. The transaction brings his total shareholding to 132,082, equal to 0.02% of the issued share capital.

Ashtead saw shares jump nearly 12% on Tuesday after saying that full-year results will be "materially ahead of our previous expectations".

Underlying profit before tax in the first quarter rose 82% year-on-year while underlying revenues gained 21%.

"Given this early stage of the recovery, we see further outperformance from re-rating as well as scope for further positive earnings surprises," said analyst Andrew Nussey from Peel Hunt.


Top Director Buys

Ashtead Group (AHT)
Director name: Mr Christopher Cole
Amount purchased: 30,000 @ 315.00p
Value: £94,500

Tempus also notes the impressive fortunes of construction equipment rental firm Ashtead. It moved into the US market in 2006, just before all hell broke loose during the financial crisis. But the US division (SunBelt) is raking in revenues at an extraordinary rate (17% up in the first quarter) because US builders don’t want to buy their own equipment with the market in such dire shape. Analysts are now busy lifting full-year targets and the group has even begun paying an interim dividend. Trading at 14 times earnings Tempus says buy.

MIDAS UPDATE: Shares in Ashtead Group double since our tipBy Joanne Hart
PUBLISHED: 22:33, 8 September 2012 | UPDATED: 22:33, 8 September 2012
Comments (0) Share

..Shares in Ashtead Group have more than doubled since September 2011, when Midas last looked at the stock.

Back then, they were 1401⁄2p. Today they are 3313⁄4p and should continue to rise.

The company said last week that trading was extremely encouraging in the three months to July 31 and results for the full year should be materially above analysts’ expectations.


Hire: Ashtead is the second largest equipment rental group in the America
Brokers have increased their forecasts and are enthusiastic about the company’s prospects. Ashtead does what Vp used to do – plant hire for the construction industry.

There is one big difference, however. Ashtead has a huge business in America, where it is the second largest equipment rental group in the country.


Construction has been badly hit by the economic downturn in the US, too, but certain trends are under way in the industry, which mean that Ashtead is still doing incredibly well.

In Britain, 75 per cent of building equipment is rented out and a few large, well-established businesses dominate the market. In America, contractors have traditionally bought their own gear.
In 2001, only 20 per cent of equipment was rented. By 2007, that had doubled to 40 per cent, it now sits at about 45 per cent and is expected to continue creeping up over the coming years.
Contractors are realising the benefits of hiring machinery as and when they need it and also see the advantages of using new or almost new equipment.
The US rental market is extremely fragmented, however, and many operators are small, independent firms that are finding it increasingly difficult to buy new products.

Ashtead, as a large, established business, is gaining market share from these smaller companies and in the three months to July, pre-tax profits surged 76 per cent to £61.4million.

Almost all of the growth came from the group’s American business, a pattern that is expected to continue for the next two to three years. Brokers raised profit forecasts for the year to next March from about £160million before last week’s trading update to more than £185million now. That compares with £130 million for the year to last March.

Midas verdict: Midas first looked at Ashtead in April 2007, when the shares were 156p. Last September, they were 1401⁄2p and we suggested sticking with them. Investors who did have been well rewarded and may wish to sell 30 per cent of their stock and bank some profits while the going is good. But they would be wise to keep most of their shares, as this company should continue to deliver for at least another couple of years.

Any investors got any views on this company, reading the above they should continue doing well for a few more years. Then you have sell recommendations due to the company reporting record trading in its first quarter to july. They have always run side by side of united rentals and they have announced results missing market expectations.
The worry is that the softer outlook for the second half that has hit united, will it hit
Ashtead. Hmmmmmmmmmmm decisions?

Sold my holding in AHT.

Up 5.4% today.

AHT Ashtead.

Sorry if this has already been posted.

Ashtead upgraded by Panmure Gordon

Panmure Gordon has upgraded its recommendation on the industrial equipment hire firm Ashtead [LON:AHT] to ‘buy’ from ‘hold’ after the company reported better than expected first half results.

The City broker has increased its share price target by 30 per cent to 447 pence from 344 pence.

Broker Forecasts consensus data shows a massive 93 per cent of brokers have positive / buy recommendation on the stock with the remainder maintaining a neutral stance.

Analyst Paul Jones said: “Following some sparkling first half results we increase our full year forecasts for both this year and next.

“Ashtead has some clear momentum going into the second half, even before the benefits of additional hurricane-related work, and strategic moves made over the last 3 years are clearly paying off.

“This is before any potentially additional benefits if US GDP (and particularly residential construction) recovers with any menace.

“We increase our target price to 447 pence (from 344 pence) and switch our hold recommendation back to buy.”

AHT Ashtead

A full pack of broker Buys thats
rare these days.......

Forward P/E of just 12.9 to 2014,
looks very cheap given actual P/E was
25.6 for 2012.

Ashtead Group PLC

FORECASTS 2013 2014
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Panmure Gordon [A]
12-12-12 BUY 206.00 26.00 5.20 236.00 29.80 5.96
Peel Hunt [A]
11-12-12 BUY 185.00 23.58 4.10 208.03 26.00 4.50
Canaccord Genuity Ltd
11-12-12 BUY 186.30 23.50 4.00 225.00 28.30 4.50
Seymour Pierce
11-12-12 BUY 218.80 28.50 3.90 246.00 32.10 4.20
Numis Securities Ltd [R]
10-12-12 BUY 149.60 19.50
Westhouse Securities [A]
06-12-12 BUY

2013 2014
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 202.55 26.00 3.95 235.50 30.20 4.35
1 Month Change 7.49 0.91 -0.05 13.80 1.73 -0.15
3 Month Change 8.62 1.11 0.00 13.38 1.75 -0.00

Notes to forecasts
(04 Sep 2012) A flag refers to outlook


GROWTH
2012 (A) 2013 (E) 2014 (E)

Norm. EPS 360.00% 70.54% 16.15%
DPS 4.78% 28.66% 10.13%

INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)

EBITDA £370.60m £482.60m £542.35m
EBIT £167.70m £252.95m £285.10m
Dividend Yield 0.78% 1.01% 1.11%
Dividend Cover 4.97x 6.58x 6.94x
PER 25.65x 15.04x 12.95x
PEG 0.07f 0.21f 0.80f
Net Asset Value PS 28.64p 170.80p 212.40p

Hemscott Premium.

Well done on these those long - I've had them on my list for a while, but never got around to them!