Speedy Hire (LON:SDY) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Speedy Hire Plc (LON:SDY)’s share price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of GBX 14.57 and traded as low as GBX 13.84. Speedy Hire shares last traded at GBX 14, with a volume of 2,071,760 shares trading hands.

Analysts Set New Price Targets

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

Speedy Hire Trading Up 2.7%

The firm has a market capitalization of £66.30 million, a P/E ratio of -2.49, a price-to-earnings-growth ratio of 0.21 and a beta of 0.70. The company has a debt-to-equity ratio of 224.84, a quick ratio of 0.90 and a current ratio of 0.85. The firm has a 50 day moving average price of GBX 14.57 and a two-hundred day moving average price of 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.