Safestore (LON:SAFE) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Safestore Holdings Plc (LON:SAFE) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 658.07 and traded as low as GBX 589. Safestore shares last traded at GBX 592.36, with a volume of 262,558 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SAFE shares. Peel Hunt reissued an “add” rating and issued a GBX 640 price objective on shares of Safestore in a research note on Monday, July 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 828 target price on shares of Safestore in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Safestore currently has an average rating of “Buy” and a consensus price target of GBX 734.

Safestore Price Performance

The company has a market capitalization of £1.28 billion, a P/E ratio of 19.80, a PEG ratio of 2.05 and a beta of 1.14. The stock’s fifty day simple moving average is GBX 610.30 and its 200-day simple moving average is GBX 657.58. The company has a debt-to-equity ratio of 49.06, a current ratio of 0.39 and a quick ratio of 0.90.

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

Insider Activity at Safestore

In other Safestore news, insider Frederic Vecchioli acquired 50,000 shares of Safestore stock in a transaction dated Wednesday, June 24th. The stock was bought at an average cost of GBX 603 per share, with a total value of £301,500. 7.90% of the stock is currently owned by company insiders.

Safestore Company Profile

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.