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

Key Points

• Speedy Hire Plc's shares increased by 18.8% following recent insider buying activity, with the stock trading up to GBX 29 ($0.39).
• Insider purchases included 10,500 shares by Shatish D. Dasani and 250,000 shares by David J. B. Shearer, indicating confidence in the company's future.
• Analysts have a consensus "Buy" rating for Speedy Hire, with a target price of GBX 65, signaling potential growth from current levels.

Speedy Hire Plc (LON:SDY - Get Free Report)'s share price rose 18.8% on Tuesday 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 traded hands 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 ($0.33).

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

Wall Street Analyst Weigh In

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

Speedy Hire Stock Up 18.8%

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 26.99 and a two-hundred day moving average price of GBX 25.20. The company has a market capitalization of £132.17 million, a price-to-earnings 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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