Speedy Hire (LON:SDY) Stock Price Up 18.8% After Insider Buying Activity

Key Points

• Speedy Hire Plc's stock price surged 18.8% on Monday, reaching as high as GBX 29 ($0.39), following insider purchases by key executives.
• Insider Shatish D. Dasani bought 10,500 shares and David J. B. Shearer acquired 250,000 shares, both at an average price of GBX 28 per share.
• Analysts maintain a "buy" rating for Speedy Hire, with a target price set at GBX 60, and the stock currently holds a consensus rating of "Buy" according to MarketBeat.com.

Speedy Hire Plc (LON:SDY - Get Free Report) shares rose 18.8% on Monday following insider buying activity. The stock traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.39). Approximately 4,539,014 shares were traded during 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 bought 10,500 shares of Speedy Hire stock in a transaction on Monday, October 6th. The stock was purchased 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 the company's stock in a transaction dated Monday, October 6th. The shares were acquired at an average price of GBX 28 per share, for a total transaction of £70,000.

Analyst Ratings Changes

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

Speedy Hire Stock Performance

The firm's fifty day moving average price is GBX 27.03 and its 200-day moving average price is GBX 25.14. 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 has a market cap of £132.17 million, a P/E ratio of -11,958.33, a P/E/G ratio of 0.21 and a beta of 1.25.

Speedy Hire Company Profile

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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