Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Ambitious Ashtead Looking To Disrupt Equipment Rental Even Further

Ashtead Group (OTCPK:ASHTY) has already accomplished a lot, as its U.S. equipment rental business Sunbelt dramatically outgrew the underlying market over the last decade or so, expanding more than 4x during a turbulent time for the overall market. Management has more in mind, though, as it believes it can eventually hold mid-teens share of a substantially larger market, as more construction companies turn to rental/leasing and as the company adds stores and bulks up in areas outside of core construction equipment rental.

Although Ashtead shares haven't done all that well year-to-date next to rivals like United Rentals (NYSE:URI) or Hertz (NYSE:HTZ), the shares are still up about 70% over the past year, with the

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