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

Speedy Hire Plc (LON:SDY) traded up 18.8% during mid-day trading 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). 4,539,014 shares were traded during 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 dated Monday, October 6th. The shares were bought 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 business’s stock in a transaction dated Monday, October 6th. The shares were acquired at an average price of GBX 28 per share, for a total transaction of £70,000.

Analyst Ratings Changes

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

Speedy Hire Price Performance

The stock 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 50 day simple moving average of GBX 26.99 and a 200-day simple moving average of GBX 25.20. The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 115.48.

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.