Speedy Hire (LON:SDY) Insider David Shearer Buys 250,000 Shares

Key Points

• Insider David Shearer purchased 250,000 shares of Speedy Hire Plc at an average price of GBX 28, totaling £70,000.
• Speedy Hire's stock rose 18.8% to GBX 28.70 on the day of the insider transaction, with trading volume significantly above average.
• Analysts have a consensus buy rating for the stock, with a price target of GBX 65 according to recent reports from Canaccord Genuity Group.

Speedy Hire Plc (LON:SDY - Get Free Report) insider David Shearer bought 250,000 shares of the company's stock in a transaction that occurred on Monday, October 6th. The shares were bought at an average price of GBX 28 per share, for a total transaction of £70,000.

Speedy Hire Stock Up 18.8%

LON SDY traded up GBX 4.53 on Monday, reaching GBX 28.70. The company had a trading volume of 4,484,545 shares, compared to its average volume of 1,098,114. The firm has a market capitalization of £132.17 million, a PE ratio of -11,958.33, a P/E/G ratio of 0.21 and a beta of 1.25. The firm has a 50-day moving average of GBX 27.03 and a 200-day moving average of GBX 25.14. The company has a debt-to-equity ratio of 115.48, a current ratio of 0.94 and a quick ratio of 0.90. Speedy Hire Plc has a 1 year low of GBX 17.62 and a 1 year high of GBX 38.20.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a "buy" rating and issued a GBX 60 price target on shares of Speedy Hire in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of GBX 65.

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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