Speedy Hire (LON:SDY) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Speedy Hire Plc (LON:SDY)’s share price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 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 traded.

Wall Street Analysts Forecast Growth

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

Speedy Hire Stock Down 4.9%

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’s 50-day simple moving average is GBX 14.45 and its 200 day simple moving average is GBX 19.26. The company has a market capitalization of £64.08 million, a PE ratio of -2.41, a price-to-earnings-growth ratio of 0.21 and a beta of 0.70.

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. 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.