Jefferies Financial Group Has Lowered Expectations for Safestore (LON:SAFE) Stock Price

Key Points

• Jefferies cut Safestore’s price target from GBX 604 to GBX 64 while maintaining a “buy” rating, implying 87.49% downside from the previous close.
• Analyst sentiment remains broadly positive: Safestore has a consensus “Moderate Buy” rating and an average price target of GBX 468, based on two Buy ratings and one Hold rating.
• Safestore shares opened at GBX 511.50, versus a 52-week range of GBX 486.60 to GBX 849.50; recent insider activity included one director selling shares and another buying them.

Safestore (LON:SAFE - Get Free Report) had its target price dropped by equities research analysts at Jefferies Financial Group from GBX 604 to GBX 64 in a research report issued on Thursday, Digital Look reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's price objective would suggest a potential downside of 87.49% from the company's previous close.

Several other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 700 price objective on shares of Safestore in a research report on Friday, September 4th. Peel Hunt reissued an "add" rating and set a GBX 640 price objective on shares of Safestore in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 468.

Safestore Price Performance

Shares of Safestore stock opened at GBX 511.50 on Thursday. Safestore has a 52 week low of GBX 486.60 and a 52 week high of GBX 849.50. 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 stock has a market cap of £1.12 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14. The company's 50-day moving average price is GBX 558.10 and its two-hundred day moving average price is GBX 608.64.

Insider Transactions at Safestore

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 Simon Clinton bought 6,258 shares of the firm's stock in a transaction on Friday, September 4th. The stock was purchased at an average price of GBX 556 per share, with a total value of £34,794.48. 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.

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