Speedy Hire (LON:SDY) Trading Down 28.4% – Time to Sell?

Shares of Speedy Hire Plc (LON:SDY) dropped 28.4% on Monday . The company traded as low as GBX 18.40 ($0.23) and last traded at GBX 19.70 ($0.24). Approximately 19,416,518 shares traded hands during mid-day 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).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 70 ($0.86) price target on shares of Speedy Hire in a research note on Thursday, November 21st.

Speedy Hire Stock Performance

The stock has a market cap of £90.98 million, a P/E ratio of 1,970.00, a PEG ratio of 0.21 and a beta of 1.25. 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’s 50-day simple moving average is GBX 28.71 and its 200 day simple moving average is GBX 33.48.

Speedy Hire (LON:SDY) last announced its earnings results 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 expect that Speedy Hire Plc will post 3.6102868 EPS for the current fiscal year.

Speedy Hire Cuts Dividend

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

Insiders Place Their Bets

In other news, insider David J. B. Shearer purchased 150,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of GBX 28 ($0.34) per share, with a total value of £42,000 ($51,603.39). Also, insider Paul A. Rayner purchased 65,000 shares of the stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of GBX 28 ($0.34) per share, for a total transaction of £18,200 ($22,361.47). 5.33% of the stock is owned by corporate insiders.

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.