Speedy Hire (LON:SDY) Stock Price Down 13% After Analyst Downgrade

Speedy Hire Plc (LON:SDY) shares dropped 13% during mid-day trading on Thursday after Canaccord Genuity Group downgraded the stock to a buy rating. Canaccord Genuity Group now has a GBX 70 price target on the stock, down from their previous price target of GBX 79. Speedy Hire traded as low as GBX 18.18 and last traded at GBX 19.13. Approximately 5,637,816 shares traded hands during trading, an increase of 396% from the average daily volume of 1,136,080 shares. The stock had previously closed at GBX 22.

Insider Activity

In other Speedy Hire news, insider Rhian Bartlett bought 1,760,000 shares of Speedy Hire stock in a transaction that occurred on Monday, January 5th. The shares were acquired at an average price of GBX 26 per share, for a total transaction of £457,600. 2.41% of the stock is owned by insiders.

Speedy Hire Price Performance

The company has a market cap of £89.20 million, a PE ratio of -7.65, a P/E/G ratio of 0.21 and a beta of 0.82. The company has a 50-day moving average price of GBX 23.62 and a two-hundred day moving average price of GBX 25.09. The company has a debt-to-equity ratio of 171.05, a current ratio of 0.46 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. It also sells access, lifting, survey, rail, and personal protective and safety equipment; various tools and equipment; and cutting, grinding, and sanding equipment, as well as site supplies.