Safestore (LON:SAFE) Stock Price Crosses Below 200-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 702.28 and traded as low as GBX 593.50. Safestore shares last traded at GBX 614, with a volume of 541,446 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 828 price objective on shares of Safestore in a research report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 824.

Safestore Stock Performance

The business’s fifty day moving average is GBX 634.74 and its two-hundred day moving average is GBX 701.63. The stock has a market capitalization of £1.33 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14. The company has a quick ratio of 0.90, a current ratio of 0.39 and a debt-to-equity ratio of 49.06.

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

Insiders Place Their Bets

In related news, insider Frederic Vecchioli bought 50,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were acquired at an average cost of GBX 603 per share, for a total transaction of £301,500. 7.88% of the stock is owned by 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.