Speedy Hire (LON:SDY) Downgraded to Buy Rating by Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Speedy Hire (LON:SDY) to a buy rating in a research note published on Thursday,London Stock Exchange reports. Canaccord Genuity Group currently has GBX 70 target price on the stock, down from their previous target price of GBX 79.

Speedy Hire Price Performance

Speedy Hire stock opened at GBX 19.36 on Thursday. The stock’s 50 day moving average price is GBX 23.73 and its 200 day moving average price is GBX 25.12. Speedy Hire has a 1-year low of GBX 17.62 and a 1-year high of GBX 33.70. The company has a market cap of £89.20 million, a PE ratio of -7.65, a price-to-earnings-growth ratio of 0.21 and a beta of 0.82. The company has a debt-to-equity ratio of 171.05, a current ratio of 0.46 and a quick ratio of 0.90.

Insiders Place Their Bets

In other news, insider Rhian Bartlett bought 1,760,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were bought at an average cost of GBX 26 per share, for a total transaction of £457,600. 2.41% of the stock is owned by insiders.

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.