Safestore (LON:SAFE) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Safestore Holdings Plc (LON:SAFE)’s share price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of GBX 608.64 and traded as low as GBX 493.20. Safestore shares last traded at GBX 500, with a volume of 3,372,500 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SAFE shares. Peel Hunt reissued an “add” rating and set a GBX 640 target price on shares of Safestore in a research report on Monday, July 13th. Jefferies Financial Group dropped their target price on shares of Safestore from GBX 604 to GBX 64 and set a “buy” rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 700 price objective on shares of Safestore in a report on Friday, September 4th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 468.

Safestore Trading Down 0.8%

The firm’s fifty day moving average is GBX 555.90 and its two-hundred day moving average is GBX 607.86. 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 firm has a market capitalization of £1.13 billion, a PE ratio of 17.49, a PEG ratio of 2.05 and a beta of 1.14.

Insider Buying and Selling

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

Safestore Company Profile

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.