Safestore (LON:SAFE) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Safestore shares fell below their 200-day moving average of GBX 603.53, reaching GBX 513 before closing at GBX 523.50 on trading volume of 255,068 shares.
• Analyst sentiment remains broadly positive, with two Buy ratings and one Hold rating; Safestore has a consensus “Moderate Buy” rating and an average price target of GBX 468.
• Company insiders purchased shares recently, including Jane Bentall’s £86,360 acquisition and Simon Clinton’s £34,794 purchase. Insiders collectively own 7.95% of Safestore.

Safestore Holdings Plc (LON:SAFE - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 603.53 and traded as low as GBX 513. Safestore shares last traded at GBX 523.50, with a volume of 255,068 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on SAFE. Jefferies Financial Group cut their target price on Safestore from GBX 604 to GBX 64 and set a "buy" rating on the stock in a research report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a GBX 700 target price on shares of Safestore in a research note on Friday, September 4th. Finally, Peel Hunt reissued an "add" rating and set a GBX 640 price target on shares of Safestore in a research report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Safestore presently has a consensus rating of "Moderate Buy" and an average price target of GBX 468.

Safestore Stock Performance

The stock has a market cap of £1.14 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.05 and a beta of 1.14. The company's 50 day simple moving average is GBX 545.62 and its 200 day simple moving average is GBX 603.53. The company has a debt-to-equity ratio of 49.06, a quick ratio of 0.90 and a current ratio of 0.39.

Insider Buying and Selling at Safestore

In related news, insider Jane Bentall purchased 17,000 shares of the business's stock in a transaction dated Wednesday, October 14th. The shares were bought at an average price of GBX 508 per share, with a total value of £86,360. Also, insider Simon Clinton acquired 6,258 shares of the business's stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of GBX 556 per share, for a total transaction of £34,794.48. Company insiders own 7.95% of the company's stock.

About Safestore

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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