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

Speedy Hire Plc (LON:SDY) shares traded up 18.8% on Monday following insider buying activity. The stock traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.39). 4,539,014 shares changed hands during mid-day trading, an increase of 313% from the average session 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 company’s stock in a transaction that occurred on Monday, October 6th. The shares were purchased at an average price of GBX 28 per share, with a total value of £2,940. Also, insider David J. B. Shearer acquired 250,000 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was purchased at an average cost of GBX 28 per share, with a total value of £70,000.

Wall Street Analysts Forecast Growth

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

Speedy Hire Stock Up 18.8%

The stock has a market capitalization of £132.17 million, a price-to-earnings ratio of -11,958.33, a PEG ratio of 0.21 and a beta of 1.25. The firm’s fifty day moving average is GBX 26.99 and its 200-day moving average is 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.

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.