Safestore (LON:SAFE) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Safestore Holdings Plc (LON:SAFE) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 697.91 and traded as low as GBX 594.50. Safestore shares last traded at GBX 600, with a volume of 285,210 shares changing hands.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating and issued a GBX 828 target price on shares of Safestore in a report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Safestore currently has an average rating of “Buy” and an average target price of GBX 824.

Safestore Stock Performance

The company has a debt-to-equity ratio of 49.06, a current ratio of 0.39 and a quick ratio of 0.90. The stock has a market capitalization of £1.31 billion, a PE ratio of 20.20, a P/E/G ratio of 2.05 and a beta of 1.15. The firm has a fifty day moving average price of GBX 625.41 and a two-hundred day moving average price of GBX 697.91.

Safestore (LON:SAFE) last posted its quarterly earnings data on Thursday, June 11th. The company reported GBX 18.90 earnings per share (EPS) for the quarter. Safestore had a return on equity of 2.86% and a net margin of 26.93%.The company had revenue of £120.60 million during the quarter. Research analysts expect that Safestore Holdings Plc will post 42.6926692 EPS for the current year.

Insider Buying and Selling

In related news, insider Frederic Vecchioli acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was bought at an average price of GBX 603 per share, for a total transaction of £301,500. 7.90% of the stock is owned by corporate insiders.

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.