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

Speedy Hire Plc (LON:SDY) shares were up 18.8% on Tuesday following insider buying activity. The stock traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.38). Approximately 4,539,014 shares changed hands during mid-day trading, an increase of 313% from the average daily volume of 1,098,396 shares. The stock had previously closed at GBX 24.17 ($0.32).

Specifically, insider Paul A. Rayner acquired 5,000 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was bought at an average price of GBX 29 per share, with a total value of £1,450. Also, insider Paul A. Rayner acquired 71,500 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was purchased at an average cost of GBX 29 per share, with a total value of £20,735. In other news, insider Paul A. Rayner acquired 13,500 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was bought at an average price of GBX 29 per share, with a total value of £3,915.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their price objective on shares of Speedy Hire from GBX 60 to GBX 79 and gave the company a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 74.50.

Speedy Hire Price Performance

The firm has a market cap of £133.55 million, a PE ratio of -12,083.33, a PEG ratio of 0.21 and a beta of 1.25. The business’s 50 day moving average price is GBX 26.92 and its 200 day moving average price is GBX 25.26. The company has a debt-to-equity ratio of 115.48, a current ratio of 0.94 and a quick ratio of 0.90.

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.