Speedy Hire (LON:SDY) Trading 18.8% Higher After Insider Buying Activity

Key Points

• Speedy Hire Plc shares surged 18.8% to GBX 28.70 during mid-day trading following insider purchases from executives totaling £72,940.
• Analyst firm Canaccord Genuity Group reaffirmed a "buy" rating with a price target of GBX 60, while the consensus target price among analysts is GBX 65.
• The company's financial metrics indicate a market cap of £132.17 million and a significantly high debt-to-equity ratio of 115.48.

Shares of Speedy Hire Plc (LON:SDY - Get Free Report) rose 18.8% during mid-day trading on Monday after an insider bought additional shares in the company. The stock 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 ($0.33).

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

Analyst Ratings Changes

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

Speedy Hire Price Performance

The company has a debt-to-equity ratio of 115.48, a current ratio of 0.94 and a quick ratio of 0.90. The stock has a market cap of £132.17 million, a price-to-earnings ratio of -11,958.33, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25. The business's 50-day simple moving average is GBX 27.03 and its two-hundred day simple moving average is GBX 25.14.

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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