Speedy Hire (LON:SDY) Shares Break Below 200-Day Moving Average – Here’s Why

Speedy Hire Plc (LON:SDY)’s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 19.08 and traded as low as GBX 14.30. Speedy Hire shares last traded at GBX 14.84, with a volume of 1,532,005 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped their price objective on shares of Speedy Hire from GBX 63 to GBX 53 and set a “buy” rating on the stock in a research report on Thursday, September 10th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 53.

Speedy Hire Stock Up 4.2%

The firm has a 50-day moving average price of GBX 17.37 and a 200 day moving average price of GBX 19.08. The company has a debt-to-equity ratio of 224.84, a current ratio of 0.85 and a quick ratio of 0.90. The company has a market cap of £68.42 million, a price-to-earnings ratio of -2.57, a P/E/G ratio of 0.21 and a beta of 0.70.

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. 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.