Speedy Hire (LON:SDY) Stock Price Up 18.8% After Insider Buying Activity

Speedy Hire Plc (LON:SDY)’s share price rose 18.8% during trading on Tuesday following insider buying activity. The stock traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.39). Approximately 4,539,014 shares traded hands 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 purchased 10,500 shares of the stock in a transaction dated Monday, October 6th. The stock was bought at an average cost of GBX 28 per share, for a total transaction of £2,940. Also, insider David J. B. Shearer purchased 250,000 shares of the stock in a transaction dated Monday, October 6th. The shares were bought at an average price of GBX 28 per share, with a total value of £70,000.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 60 price target on shares of Speedy Hire in a report on Thursday, September 4th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 65.

Speedy Hire Stock Up 18.8%

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

About Speedy Hire

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.