Safestore (LON:SAFE) Receives "Hold" Rating from Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank reaffirmed its “Hold” rating on Safestore and set a GBX 700 price target, implying 24.11% potential upside from the previous close.
• Analyst sentiment is somewhat positive overall: Safestore has a “Moderate Buy” consensus rating and an average price target of GBX 709.33, supported by Buy ratings from Jefferies and Peel Hunt.
• Safestore shares rose to GBX 564 during Friday trading, while the company reported quarterly EPS of GBX 18.90 and revenue of £120.60 million; insider Frederic Vecchioli also sold shares worth approximately £89,066.

Safestore (LON:SAFE - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Deutsche Bank Aktiengesellschaft in a research report issued to clients and investors on Friday, Digital Look reports. They presently have a GBX 700 price objective on the stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 24.11% from the company's previous close.

Several other equities research analysts have also recently issued reports on SAFE. 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. Jefferies Financial Group reissued a "buy" rating and issued a GBX 788 price target on shares of Safestore in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 709.33.

Safestore Price Performance

Shares of SAFE traded up GBX 6.50 during mid-day trading on Friday, reaching GBX 564. 3,549,088 shares of the company's stock were exchanged, compared to its average volume of 2,362,201. 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 has a 52-week low of GBX 551.50 and a 52-week high of GBX 849.50. The company has a market cap of £1.23 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 2.05 and a beta of 1.14. The company has a 50-day simple moving average of GBX 608.10 and a two-hundred day simple moving average of GBX 650.42.

Safestore (LON:SAFE - Get Free Report) last issued its quarterly earnings data on Thursday, June 11th. The company reported GBX 18.90 earnings per share (EPS) for the quarter. The business had revenue of £120.60 million for the quarter. Safestore had a return on equity of 2.86% and a net margin of 26.93%. On average, sell-side analysts predict that Safestore will post 42.6926692 EPS for the current fiscal year.

Insider Transactions at Safestore

In related news, insider Frederic Vecchioli sold 15,251 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of GBX 584, for a total value of £89,065.84. Company 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.

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