Speedy Hire (LON:SDY) Trading 18.8% Higher Following Insider Buying Activity

Speedy Hire Plc (LON:SDY)’s stock price was up 18.8% during 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 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 bought 10,500 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was purchased at an average price of GBX 28 per share, with a total value of £2,940. Also, insider David J. B. Shearer purchased 250,000 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, for a total transaction of £70,000.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 60 price objective on shares of Speedy Hire in a report on Thursday, September 4th. Two investment 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 target price of GBX 65.

Speedy Hire Stock Up 18.8%

The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 115.48. The company’s fifty day moving average price is GBX 26.99 and its 200-day moving average price is GBX 25.20. The stock has a market capitalization of £132.17 million, a PE ratio of -11,958.33, a price-to-earnings-growth 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.