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

Shares of Speedy Hire Plc (LON:SDY) traded up 17.9% during mid-day trading on Monday following insider buying activity. The company traded as high as GBX 29 ($0.39) and last traded at GBX 28.50 ($0.38). 4,361,491 shares traded hands during trading, an increase of 297% from the average session volume of 1,097,477 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 that occurred on Monday, October 6th. The shares were acquired 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 firm’s stock in a transaction on Monday, October 6th. The stock was purchased at an average cost of GBX 28 per share, for a total transaction of £70,000.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised their target price on shares of Speedy Hire from GBX 60 to GBX 79 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 74.50.

Speedy Hire Stock Up 1.0%

The company has a market capitalization of £133.55 million, a P/E ratio of -12,083.33, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25. 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 firm’s fifty day moving average is GBX 26.96 and its 200-day moving average is GBX 25.23.

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.