Speedy Hire (LON:SDY) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Speedy Hire Plc (LON:SDY)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 26.86 and traded as low as GBX 24.70. Speedy Hire shares last traded at GBX 26.65, with a volume of 434,062 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price target on Speedy Hire from GBX 60 to GBX 79 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 74.50.

Speedy Hire Stock Performance

The firm has a fifty day moving average of GBX 25.98 and a 200-day moving average of GBX 26.90. 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 stock has a market capitalization of £122.04 million, a price-to-earnings ratio of -110.42, a P/E/G ratio of 0.21 and a beta of 1.25.

Insider Buying and Selling

In other news, insider David J. B. Shearer acquired 250,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were bought at an average price of GBX 28 per share, for a total transaction of £70,000. Also, insider Paul A. Rayner bought 5,000 shares of Speedy Hire stock in a transaction dated Tuesday, October 7th. The shares were purchased at an average cost of GBX 29 per share, for a total transaction of £1,450. In the last 90 days, insiders have acquired 550,500 shares of company stock valued at $15,704,000. Corporate insiders own 2.38% of the company’s stock.

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.