Speedy Hire (LON:SDY) Hits New 1-Year Low – Here’s Why

Speedy Hire Plc (LON:SDY) reached a new 52-week low during trading on Thursday. The company traded as low as GBX 12.82 and last traded at GBX 12.94, with a volume of 2,882,454 shares traded. The stock had previously closed at GBX 13.30.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price target on Speedy Hire from GBX 63 to GBX 53 and set a “buy” rating for the company in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 53.

Speedy Hire Trading Down 2.7%

The company’s 50-day moving average is GBX 16.03 and its 200-day moving average is GBX 18.46. The firm has a market cap of £59.66 million, a price-to-earnings ratio of -2.24, a P/E/G ratio of 0.21 and a beta of 0.70. The company has a debt-to-equity ratio of 224.84, a quick ratio of 0.90 and a current ratio of 0.85.

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.