Safestore (LON:SAFE) Reaches New 52-Week High – Here’s Why

Safestore Holdings Plc (LON:SAFE) shares reached a new 52-week high on Wednesday . The company traded as high as GBX 776.50 and last traded at GBX 776.50, with a volume of 457461 shares changing hands. The stock had previously closed at GBX 743.50.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their price objective on shares of Safestore from GBX 648 to GBX 682 and gave the stock a “hold” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Safestore presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 751.

Safestore Price Performance

The firm has a market cap of £1.70 billion, a PE ratio of 5.76, a P/E/G ratio of 2.05 and a beta of 0.86. The company has a debt-to-equity ratio of 41.53, a current ratio of 0.89 and a quick ratio of 0.90. The business’s fifty day moving average is GBX 716.64 and its 200-day moving average is GBX 685.60.

About Safestore

Safestore is the UK's largest self storage group with 190 stores on 31 October 2023, comprising 133 wholly owned stores in the UK (including 73 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool, Sheffield, Leeds, Newcastle, and Bristol), 29 wholly owned stores in the Paris region, 11 stores in Spain, 11 stores in the Netherlands and 6 stores in Belgium. In addition, the Group operates 7 stores in Germany under a Joint Venture agreement with Carlyle.