Speedy Hire (LON:SDY) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Speedy Hire Plc (LON:SDY)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 24.59 and traded as low as GBX 19.66. Speedy Hire shares last traded at GBX 19.82, with a volume of 641,334 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lowered Speedy Hire to a “buy” rating and cut their price target for the company from GBX 79 to GBX 70 in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 70.

Speedy Hire Stock Down 3.1%

The firm has a market cap of £91.32 million, a P/E ratio of -7.83, a price-to-earnings-growth ratio of 0.21 and a beta of 0.82. The company has a quick ratio of 0.90, a current ratio of 0.46 and a debt-to-equity ratio of 171.05. The firm has a fifty day moving average of GBX 21.93 and a 200-day moving average of GBX 24.59.

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. 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.