Safestore (LON:SAFE) Sets New 1-Year Low - Time to Sell?

Key Points

• Safestore shares hit a new 52-week low of GBX 550.50, below both their 50-day and 200-day moving averages, amid trading volume of more than 10.8 million shares.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of GBX 709.33—roughly 29% above the latest trading price.
• Recent results showed quarterly revenue of £120.6 million and EPS of GBX 18.90, while insiders purchased shares, including 50,000 shares bought by Frederic Vecchioli and 6,258 by Simon Clinton.

Safestore Holdings Plc (LON:SAFE - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as GBX 550.50 and last traded at GBX 550.50, with a volume of 10890763 shares. The stock had previously closed at GBX 560.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Jefferies Financial Group reiterated a "buy" rating and set a GBX 788 target price on shares of Safestore in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 700 price target on shares of Safestore in a research note on Friday, September 4th. Finally, Peel Hunt reiterated an "add" rating and issued a GBX 640 price objective on shares of Safestore in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Safestore has an average rating of "Moderate Buy" and a consensus price target of GBX 709.33.

Safestore Stock Up 0.3%

The stock's 50 day simple moving average is GBX 604.68 and its two-hundred day simple moving average is GBX 645.47. The firm has a market cap of £1.21 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.05 and a beta of 1.14. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, June 11th. The company reported GBX 18.90 EPS for the quarter. Safestore had a return on equity of 2.86% and a net margin of 26.93%.The firm had revenue of £120.60 million for the quarter. As a group, research analysts forecast that Safestore Holdings Plc will post 42.6926692 earnings per share for the current year.

Insider Transactions at Safestore

In other news, insider Frederic Vecchioli purchased 50,000 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The shares were bought at an average price of GBX 603 per share, for a total transaction of £301,500. Also, insider Simon Clinton acquired 6,258 shares of the business's stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average cost of GBX 556 per share, for a total transaction of £34,794.48. Insiders own 7.91% of the company's stock.

Safestore Company Profile

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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