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

Key Points

• Speedy Hire's stock surged by 18.8% following notable insider buying, with significant purchases from insiders totaling over £72,000.
• Analysts have set a price target of GBX 60 for Speedy Hire, maintaining a "buy" rating, while the stock's consensus target price stands at GBX 65.
• The company has a market capitalization of £132.17 million and operates in the equipment hire sector for construction and industrial markets in the UK and Ireland.

Speedy Hire Plc (LON:SDY - Get Free Report)'s stock price was up 18.8% 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 ($0.32).

Specifically, insider Shatish D. Dasani purchased 10,500 shares of the stock in a transaction dated Monday, October 6th. The stock was acquired 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 stock in a transaction dated Monday, October 6th. The shares were acquired at an average price of GBX 28 per share, with a total value of £70,000.

Analysts Set New Price Targets

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 data from MarketBeat.com, Speedy Hire has an average rating of "Buy" and a consensus target price of GBX 65.

Speedy Hire Stock Up 18.8%

The company has a debt-to-equity ratio of 115.48, a quick ratio of 0.90 and a current ratio of 0.94. The company 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 has a 50-day simple moving average of GBX 27.03 and a 200-day simple moving average of 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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