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

Key Points

• Speedy Hire Plc's stock surged 18.8% following insider purchases, with significant trading activity exceeding average volume by 313%.
• Insiders Shatish D. Dasani and David J. B. Shearer collectively purchased 260,500 shares at an average price of GBX 28 per share, highlighting insider confidence.
• Analyst Canaccord Genuity reaffirmed a "buy" rating for Speedy Hire, setting a price target of GBX 60, with the average target from analysts at GBX 65.

Speedy Hire Plc (LON:SDY - Get Free Report) shot up 18.8% on Tuesday after an insider bought additional shares in the company. The company traded as high as GBX 29 ($0.39) and last traded at GBX 28.70 ($0.39). 4,539,014 shares were traded during mid-day trading, an increase of 313% from the average session 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 company's stock in a transaction that occurred on Monday, October 6th. The shares were 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 Speedy Hire stock in a transaction on Monday, October 6th. The stock was acquired at an average price of GBX 28 per share, with a total value of £70,000.

Analyst Upgrades and Downgrades

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

Speedy Hire Trading Up 18.8%

The stock has a market capitalization 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 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 fifty day moving average of GBX 26.99 and a two-hundred day moving average of GBX 25.20.

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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