Insider Buying: Speedy Hire (LON:SDY) Insider Acquires 200,000 Shares of Stock

Key Points

• Insider David Garman purchased 200,000 shares of Speedy Hire Plc stock for a total value of £58,000 at an average cost of GBX 29 per share.
• Canaccord Genuity Group increased their target price for Speedy Hire's shares from GBX 60 to GBX 79, reaffirming a "buy" rating on the stock.
• Speedy Hire's stock has a current market capitalization of £134.81 million, with a 52-week range between GBX 17.62 and GBX 38.20.

Speedy Hire Plc (LON:SDY - Get Free Report) insider David Garman purchased 200,000 shares of the firm's stock in a transaction dated Wednesday, October 8th. The stock was acquired at an average cost of GBX 29 per share, with a total value of £58,000.

Speedy Hire Stock Performance

Shares of LON SDY opened at GBX 29.27 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 115.48. The firm's 50-day moving average price is GBX 26.92 and its two-hundred day moving average price is GBX 25.26. Speedy Hire Plc has a 52-week low of GBX 17.62 and a 52-week high of GBX 38.20. The stock has a market capitalization of £134.81 million, a P/E ratio of -12,197.50, a P/E/G ratio of 0.21 and a beta of 1.25.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their target price on shares of Speedy Hire from GBX 60 to GBX 79 and gave the stock a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of GBX 74.50.

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.

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