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

Shares of Speedy Hire Plc (LON:SDY) rose 18.8% during trading 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 ($0.38). Approximately 4,539,014 shares were traded 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 ($0.32).

Specifically, insider Paul A. Rayner purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were purchased at an average cost of GBX 29 per share, with a total value of £1,450. Also, insider Paul A. Rayner acquired 71,500 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was acquired at an average cost of GBX 29 per share, for a total transaction of £20,735. In other Speedy Hire news, insider Paul A. Rayner acquired 13,500 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were acquired at an average cost of GBX 29 per share, with a total value of £3,915.

Analyst Ratings Changes

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

Speedy Hire Price Performance

The firm has a 50 day moving average price of GBX 26.92 and a 200 day moving average price of GBX 25.26. The stock has a market capitalization of £133.55 million, a PE ratio of -12,083.33, 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.

About Speedy Hire

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.