Speedy Hire (LON:SDY) Stock Price Down 28.4% – Here’s Why

Speedy Hire Plc (LON:SDY)’s stock price was down 28.4% during trading on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.70 ($0.25). Approximately 19,416,518 shares changed hands during trading, an increase of 1,395% from the average daily volume of 1,299,089 shares. The stock had previously closed at GBX 27.50 ($0.34).

Analysts Set New Price Targets

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

Speedy Hire Price Performance

The firm has a fifty day moving average price of GBX 28.20 and a 200-day moving average price of GBX 33.05. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 115.48. The firm has a market cap of £92.37 million, a price-to-earnings ratio of 2,000.00, a PEG ratio of 0.21 and a beta of 1.25.

Speedy Hire (LON:SDY) last posted its quarterly earnings data on Thursday, November 21st. The company reported GBX 0.07 ($0.00) earnings per share (EPS) for the quarter. Speedy Hire had a return on equity of 1.50% and a net margin of 0.64%. As a group, sell-side analysts forecast that Speedy Hire Plc will post 3.6102868 EPS for the current year.

Speedy Hire Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Thursday, December 5th were given a GBX 0.80 ($0.01) dividend. This represents a dividend yield of 2.76%. The ex-dividend date was Thursday, December 5th. Speedy Hire’s dividend payout ratio (DPR) is currently 30,000.00%.

Insider Buying and Selling

In related news, insider Paul A. Rayner acquired 65,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of GBX 28 ($0.35) per share, with a total value of £18,200 ($22,752.84). Also, insider Shatish D. Dasani bought 70,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were acquired at an average cost of GBX 20 ($0.25) per share, for a total transaction of £14,000 ($17,502.19). In the last ninety days, insiders have bought 285,000 shares of company stock valued at $7,420,000. 5.33% of the stock is currently owned by company 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.