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Ashtead (OTCPK:ASHTF) is a UK-listed business that supplies rental equipment to various construction firms within the US and UK. It has performed phenomenally well over the last 3 years, but as secular and cyclical tailwinds continue this growth should be sustainable. There is a shift from customers towards the rental equipment market, which precludes large CAPEX investments in equipment. The economic recovery in the US and UK also provides opportunities for volumes to increase. Despite the high growth levels, the stock appears undervalued against its main UK peer, Speedy Hire Plc, and the broader UK market.

Company Background

Ashtead Group is one of the world's largest equipment rental firms with a network of more than 400 profit...

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