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Ashtead Technology - Trading at 9x PE for 2026

April 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • AT.
  • Price:
  • 409p
I’ve already tipped my hat to James Fisher (FSJ; 455p) elsewhere this month but another interesting company in the same sector is Ashtead Technology, the go-to name for rental gear and subsea services that is also looking well-positioned for a feeding frenzy. I anticipate that ongoing events in the Gulf will keep oil prices elevated for an extended period and both companies are likely to see EPS upgrades. Sustained highs in the oil price tend to spark a surge in rebuilding, investments in existing fields, and new greenfield projects, which in turn create equipment scarcity. Last year, the Middle East accounted for just 9% of Ashtead’s sales, so even if operations there face disruption, the impact is limited: the hire fleet can be ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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