Safestore (LON:SAFE) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

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 603.53 and traded as low as GBX 513. Safestore shares last traded at GBX 523.50, with a volume of 255,068 shares.

Analysts Set New Price Targets

A number of research firms recently commented on SAFE. Peel Hunt reiterated an “add” rating and issued a GBX 640 price target on shares of Safestore in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 700 price objective on shares of Safestore in a research note on Friday, September 4th. Finally, Jefferies Financial Group reduced their target price on Safestore from GBX 604 to GBX 64 and set a “buy” rating on the stock in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Safestore presently has an average rating of “Moderate Buy” and a consensus target price of GBX 468.

Safestore Stock Performance

The stock’s 50-day moving average price is GBX 543.62 and its 200-day moving average price is GBX 603.02. The company has a current ratio of 0.39, a quick ratio of 0.90 and a debt-to-equity ratio of 49.06. The company has a market capitalization of £1.16 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.05 and a beta of 1.14.

Insider Buying and Selling

In other Safestore news, insider Jane Bentall bought 17,000 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were purchased at an average price of GBX 508 per share, with a total value of £86,360. Also, insider Frederic Vecchioli sold 15,251 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of GBX 584, for a total transaction of £89,065.84. 7.95% of the stock is owned by company insiders.

About Safestore

Safestore Holdings plc (LSE: SAFE) is the UK’s largest self-storage group and a constituent of the FTSE-250 Index. Founded in 1998, Safestore provides flexible, affordable storage solutions to residential and business customers, operating as a Real Estate Investment Trust (REIT). The Group is headquartered in Borehamwood and listed on the Main Market of the London Stock Exchange.

Safestore is the UK’s largest self-storage group with 215 stores across seven European countries, including over 140 stores in the UK – of which, 79 are in London and the South East, with further locations in Manchester, Birmingham, Glasgow, Edinburgh, Bristol, and Leeds.