Ashtead Technology Holdings (AT.)

Sector:

Energy Producers

Index:

FTSE AIM 50

425.00p
   
  • Change Today:
    -10.50p
  • 52 Week High: 875.00
  • 52 Week Low: 418.00
  • Currency: UK Pounds
  • Shares Issued: 80.31m
  • Volume: 483,302
  • Market Cap: £341.33m

Berenberg initiates coverage on Ashtead Technology at 'buy'

By Iain Gilbert

Date: Tuesday 14 Feb 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg initiated coverage on subsea equipment and solutions group Ashtead Technology at 'buy' on Thursday, branding the firm "a market leader in a thriving sector".
Berenberg thinks that Ashtead has strong customer relationships, forms an important part of the subsea supply chain, provides "differentiated exposure" to the energy transition, and has an "ambitious management team" that is looking to scale the business on a multi-year view.

"We believe that Ashtead Technology can increase revenues at healthy double-digit levels, on an organic constant-currency basis, across our forecast period, supported by a number of macro and micro drivers," said Berenberg.

The German bank added that while a large proportion of Ashtead Technology's revenue comes from the rental of equipment to customers, it believes that the company adds "significant value" from its product selection, availability and its application of technological knowhow, as well as from servicing and assembling equipment, rather than just being a pure rental business.

"This model helps to drive strong pricing power, margins and returns," said Berenberg, which also issued the stock a 405.0p target price.

Berenberg said Ashtead Technology currently trades on a 12.7x full-year 2023 price-to-earnigns ratio and 7.5x EBITDA with a 4.4% free cash flow yield.



















Reporting by Iain Gilbert at Sharecast.com

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AT. Market Data

Currency UK Pounds
Share Price 425.00p
Change Today -10.50p
% Change -2.41 %
52 Week High 875.00
52 Week Low 418.00
Volume 483,302
Shares Issued 80.31m
Market Cap £341.33m

AT. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
39.35% below the market average39.35% below the market average39.35% below the market average39.35% below the market average39.35% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Price Trend
43.81% below the market average43.81% below the market average43.81% below the market average43.81% below the market average43.81% below the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average
Income Not Available
Growth
95.61% above the market average95.61% above the market average95.61% above the market average95.61% above the market average95.61% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

AT. Dividends

  Latest Previous
  Final Final
Ex-Div 01-May-25 02-May-24
Paid 29-May-25 03-Jun-24
Amount 1.20p 1.10p

Trades for 30-May-2025

Time Volume / Share Price
17:06 1,700 @ 425.00p
16:36 28,120 @ 427.65p
16:36 5,205 @ 427.65p
16:36 720 @ 427.65p
16:35 147,623 @ 425.00p

AT. Key Personnel

CEO Allan Pirie
CFO Ingrid Stewart

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