Speedy Hire (LON:SDY) Shares Up 18.8% Following Insider Buying Activity

Speedy Hire Plc (LON:SDY) rose 18.8% during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.39). Approximately 4,539,014 shares were traded during mid-day trading, an increase of 313% from the average daily volume of 1,098,396 shares. The stock had previously closed at GBX 24.17 ($0.33).

Specifically, insider Shatish D. Dasani acquired 10,500 shares of Speedy Hire stock in a transaction dated Monday, October 6th. The shares were acquired at an average cost of GBX 28 per share, with a total value of £2,940. Also, insider David J. B. Shearer purchased 250,000 shares of Speedy Hire stock in a transaction that occurred on Monday, October 6th. The shares were bought at an average cost of GBX 28 per share, for a total transaction of £70,000.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a “buy” rating and set a GBX 60 price target on shares of Speedy Hire in a research report on Thursday, September 4th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 65.

Speedy Hire Stock Up 18.8%

The company has a debt-to-equity ratio of 115.48, a quick ratio of 0.90 and a current ratio of 0.94. The firm has a fifty day simple moving average of GBX 26.99 and a 200-day simple moving average of GBX 25.20. The company has a market capitalization of £132.17 million, a PE ratio of -11,958.33, a P/E/G ratio of 0.21 and a beta of 1.25.

Speedy Hire Company Profile

Speedy Hire Plc, together with its subsidiaries, provides tools, equipment, and plant hire services to the construction, infrastructure, and industrial markets in the United Kingdom and Ireland. The company hires a range of tools and accessories, including access, lighting, lifting, rail, survey and safety, ATEX, plant, communications, and pipework and engineering equipment; compressors, generators, and pumps; and heating, ventilation, and cooling equipment.