Speedy Hire (LON:SDY) Trading 17.9% Higher After Insider Buying Activity

Key Points

• Speedy Hire's stock price surged 17.9% after it was revealed that insiders purchased shares, with notable transactions including the acquisition of 10,500 shares by Shatish D. Dasani and 250,000 shares by David J. B. Shearer at an average price of GBX 28.
• Canaccord Genuity reaffirms a "buy" rating for Speedy Hire, setting a price target of GBX 60, while the average price target among analysts is GBX 65.
• The company's market capitalization stands at £132.17 million, with key financial ratios indicating a quick ratio of 0.90 and a debt-to-equity ratio of 115.48.

Speedy Hire Plc (LON:SDY - Get Free Report)'s stock price rose 17.9% during mid-day trading 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 28.50 ($0.38). Approximately 4,361,491 shares traded hands during trading, an increase of 297% from the average daily volume of 1,097,477 shares. The stock had previously closed at GBX 24.17 ($0.33).

Specifically, insider Shatish D. Dasani acquired 10,500 shares of the company's stock in a transaction on Monday, October 6th. The stock was bought at an average cost of GBX 28 per share, with a total value of £2,940. Also, insider David J. B. Shearer bought 250,000 shares of the stock in a transaction dated Monday, October 6th. The stock was purchased at an average price of GBX 28 per share, with a total value of £70,000.

Analyst Upgrades and Downgrades

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

Speedy Hire Stock Performance

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 has a 50 day moving average price of GBX 27.03 and a 200 day moving average price of GBX 25.14. The stock has a market cap of £132.17 million, a PE ratio of -11,958.33, a price-to-earnings-growth 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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