Speedy Hire (LON:SDY) Stock Price Up 14.2% - Here's Why

Shares of Speedy Hire Plc (LON:SDY - Get Free Report) were up 14.2% during trading on Monday . The company traded as high as GBX 29 ($0.39) and last traded at GBX 27.59 ($0.37). Approximately 1,282,891 shares were traded during mid-day trading, an increase of 19% from the average daily volume of 1,081,525 shares. The stock had previously closed at GBX 24.17 ($0.32).

Analysts Set New Price Targets

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

Speedy Hire Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 115.48. The company's 50-day moving average is GBX 27.03 and its two-hundred day moving average is GBX 25.14. The stock has a market capitalization of £127.05 million, a P/E ratio of -11,495.00, a P/E/G ratio of 0.21 and a beta of 1.25.

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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