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

Speedy Hire Plc (LON:SDY)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 34.51 ($0.43) and traded as low as GBX 27.50 ($0.35). Speedy Hire shares last traded at GBX 28.40 ($0.36), with a volume of 1,075,772 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 70 ($0.88) price target on shares of Speedy Hire in a research note on Thursday, November 21st.

Speedy Hire Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 115.48. The company has a market capitalization of £131.16 million, a price-to-earnings ratio of 2,840.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25. The stock’s fifty day simple moving average is GBX 31.96 and its 200-day simple moving average is GBX 34.56.

Speedy Hire Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, December 5th will be paid a GBX 0.80 ($0.01) dividend. This represents a dividend yield of 2.76%. The ex-dividend date is Thursday, December 5th. Speedy Hire’s payout ratio is currently 30,000.00%.

Insider Activity at Speedy Hire

In other news, insider David J. B. Shearer acquired 150,000 shares of Speedy Hire stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of GBX 28 ($0.35) per share, for a total transaction of £42,000 ($52,783.71). Also, insider Paul A. Rayner acquired 105,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average cost of GBX 36 ($0.45) per share, with a total value of £37,800 ($47,505.34). Over the last three months, insiders purchased 320,000 shares of company stock worth $9,800,000. Company insiders own 5.33% of the company’s stock.

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.