Safestore (LON:SAFE) Reaches New 1-Year Low – Here’s Why

Safestore Holdings Plc (LON:SAFE)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 554.50 and last traded at GBX 589, with a volume of 34641332 shares changing hands. The stock had previously closed at GBX 611.50.

Wall Street Analysts Forecast Growth

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

Safestore Price Performance

The firm has a market capitalization of £1.31 billion, a P/E ratio of 20.25, a PEG ratio of 2.05 and a beta of 1.14. The company has a fifty day moving average of GBX 611.07 and a 200 day moving average of GBX 665.51. 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 released its quarterly earnings results on Thursday, June 11th. The company reported GBX 18.90 earnings per share (EPS) for the quarter. The firm had revenue of £120.60 million during the quarter. Safestore had a net margin of 26.93% and a return on equity of 2.86%. Sell-side analysts predict that Safestore Holdings Plc will post 42.6926692 earnings per share for the current year.

Insiders Place Their Bets

In other Safestore news, insider Frederic Vecchioli sold 15,251 shares of the 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. Insiders own 7.90% of the company’s stock.

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.