Speedy Hire (LON:SDY) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Speedy Hire Plc (LON:SDY) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 23.17 and traded as low as GBX 18.70. Speedy Hire shares last traded at GBX 19.30, with a volume of 666,580 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut shares of Speedy Hire to a “buy” rating and dropped their price objective for the company from GBX 79 to GBX 70 in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 70.

Speedy Hire Stock Down 1.7%

The company has a current ratio of 0.46, a quick ratio of 0.90 and a debt-to-equity ratio of 171.05. The company has a market capitalization of £87.45 million, a price-to-earnings ratio of -7.50, a PEG ratio of 0.21 and a beta of 0.71. The firm’s 50 day simple moving average is GBX 20.05 and its 200-day simple moving average is GBX 23.17.

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.