Canaccord Genuity Group Issues Pessimistic Forecast for Speedy Hire (LON:SDY) Stock Price

Speedy Hire (LON:SDY) had its target price reduced by analysts at Canaccord Genuity Group from GBX 70 to GBX 63 in a report released on Wednesday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 223.01% from the stock’s previous close.

Speedy Hire Price Performance

Shares of SDY opened at GBX 19.50 on Wednesday. The company has a debt-to-equity ratio of 171.05, a quick ratio of 0.90 and a current ratio of 0.46. The stock has a 50 day simple moving average of GBX 19.89 and a 200 day simple moving average of GBX 22.87. Speedy Hire has a 52-week low of GBX 18.18 and a 52-week high of GBX 33.70. The firm has a market capitalization of £89.86 million, a PE ratio of -7.71, a P/E/G ratio of 0.21 and a beta of 0.71.

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. It also sells access, lifting, survey, rail, and personal protective and safety equipment; various tools and equipment; and cutting, grinding, and sanding equipment, as well as site supplies.