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

Key Points

• Safestore shares fell below their 200-day moving average of GBX 628.08, reaching GBX 526 before closing at GBX 532.50, down 0.9%.
• Analysts remain broadly positive, with two Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of GBX 709.33.
• Insider activity was mixed: Frederic Vecchioli sold shares worth approximately £89,066, while Simon Clinton purchased shares worth about £34,794; insiders own 7.91% of the company.

Safestore Holdings Plc (LON:SAFE - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 628.08 and traded as low as GBX 526. Safestore shares last traded at GBX 532.50, with a volume of 307,563 shares changing hands.

Analysts Set New Price Targets

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

Safestore Stock Down 0.9%

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 firm has a market cap of £1.15 billion, a PE ratio of 17.76, a P/E/G ratio of 2.05 and a beta of 1.14. The business's 50-day simple moving average is GBX 591.75 and its 200 day simple moving average is GBX 628.08.

Insider Buying and Selling

In related news, insider Frederic Vecchioli sold 15,251 shares of the business'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. Also, insider Simon Clinton bought 6,258 shares of the stock in a transaction on Friday, September 4th. The shares were bought at an average price of GBX 556 per share, with a total value of £34,794.48. Insiders own 7.91% of the company's stock.

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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