Speedy Hire (LON:SDY) Share Price Breaks Below 200 Day Moving Average – What’s Next?

Speedy Hire Plc (LON:SDY) shares passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 19.40 and traded as low as GBX 14.80. Speedy Hire shares last traded at GBX 14.84, with a volume of 1,398,723 shares changing hands.

Analyst Ratings Changes

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

Speedy Hire Price Performance

The stock has a market cap of £66.57 million, a P/E ratio of -2.50, a price-to-earnings-growth ratio of 0.21 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.90 and a debt-to-equity ratio of 224.84. The company’s fifty day simple moving average is GBX 17.79 and its 200-day simple moving average is GBX 19.37.

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. 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.