Speedy Hire (LON:SDY) Trading Down 28.7% – Should You Sell?

Speedy Hire Plc (LON:SDY)’s stock price dropped 28.7% during mid-day trading on Monday . The stock traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.60 ($0.24). Approximately 26,067,354 shares traded hands during mid-day trading, an increase of 1,541% from the average daily volume of 1,588,256 shares. The stock had previously closed at GBX 27.50 ($0.34).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 70 ($0.87) target price on shares of Speedy Hire in a research report on Thursday, November 21st.

Speedy Hire Price Performance

The company has a 50-day moving average of GBX 28.38 and a 200-day moving average of GBX 33.19. 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 £92.37 million, a price-to-earnings ratio of 2,000.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.25.

Speedy Hire (LON:SDY) last issued its quarterly earnings results on Thursday, November 21st. The company reported GBX 0.07 ($0.00) earnings per share for the quarter. Speedy Hire had a return on equity of 1.50% and a net margin of 0.64%. On average, equities analysts predict that Speedy Hire Plc will post 3.6102868 earnings per share for the current fiscal year.

Speedy Hire Cuts Dividend

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

Insider Activity

In other Speedy Hire news, insider Paul A. Rayner bought 65,000 shares of Speedy Hire stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of GBX 28 ($0.35) per share, with a total value of £18,200 ($22,715.93). Also, insider David J. B. Shearer bought 150,000 shares of the stock in a transaction dated Monday, November 25th. The stock was bought at an average price of GBX 28 ($0.35) per share, for a total transaction of £42,000 ($52,421.37). Insiders have purchased 285,000 shares of company stock valued at $7,420,000 over the last ninety days. 5.33% of the stock is currently 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.