Speedy Hire (LON:SDY) Shares Up 18.8% Following Insider Buying Activity

Key Points

• Speedy Hire's shares surged 18.8% after insiders Shatish D. Dasani and David J. B. Shearer bought significant amounts of stock, totaling £72,940.
• The company has an average price target of GBX 65 from analysts, indicating potential for continued growth.
• Speedy Hire operates in the construction and industrial rental markets, providing a variety of equipment and has a current market cap of £132.17 million.

Speedy Hire Plc (LON:SDY - Get Free Report)'s stock price was up 18.8% on Monday after an insider bought additional shares in the company. The company traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.39). 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 Shatish D. Dasani purchased 10,500 shares of Speedy Hire stock in a transaction dated Monday, October 6th. The stock was bought at an average cost of GBX 28 per share, for a total transaction of £2,940. Also, insider David J. B. Shearer purchased 250,000 shares of Speedy Hire stock in a transaction dated Monday, October 6th. The stock was bought at an average price of GBX 28 per share, with a total value of £70,000.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 60 price target on shares of Speedy Hire in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of GBX 65.

Speedy Hire Stock Up 18.8%

The company has a market cap of £132.17 million, a P/E ratio of -11,958.33, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25. The company 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.

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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