Shares of Speedy Hire Plc (LON:SDY – Get Free Report) rose 18.8% on Monday following insider buying activity. The company traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.39). Approximately 4,539,014 shares changed hands during 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 firm’s stock in a transaction dated Monday, October 6th. The shares were bought at an average price of GBX 28 per share, for a total transaction of £2,940. Also, insider David J. B. Shearer purchased 250,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was acquired at an average price of GBX 28 per share, for a total transaction of £70,000.
Wall Street Analyst Weigh In
Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 price target on shares of Speedy Hire in a research note on Thursday, September 4th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Speedy Hire currently has an average rating of “Buy” and an average price target of GBX 65.
Speedy Hire Stock Performance
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 company has a market cap 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 company has a fifty day moving average of GBX 26.99 and a two-hundred day moving average of GBX 25.20.
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.
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