Safestore (LON:SAFE) Stock Breaks Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Safestore shares fell below their 200-day moving average, dropping as low as GBX 493.20 and last trading at GBX 500, versus a 200-day average of GBX 608.64.
• Analyst sentiment remains generally positive: two analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 709.33.
• Insider activity was mixed, with one insider selling shares worth about £89,066 and another buying approximately £34,794; insiders collectively own 7.95% of the company.

Safestore Holdings Plc (LON:SAFE - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 608.64 and traded as low as GBX 493.20. Safestore shares last traded at GBX 500, with a volume of 3,372,500 shares traded.

Wall Street Analyst Weigh In

SAFE has been the topic of several research reports. Peel Hunt reiterated an "add" rating and set a GBX 640 price objective on shares of Safestore in a research note on Monday, July 13th. Jefferies Financial Group reissued a "buy" rating and set a GBX 788 target price on shares of Safestore in a research note on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 700 price target on shares of Safestore in a research report on Friday, September 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 709.33.

Safestore Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.39 and a debt-to-equity ratio of 49.06. The firm has a market cap of £1.09 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 2.05 and a beta of 1.14. The company has a 50-day moving average price of GBX 558.10 and a 200 day moving average price of GBX 608.64.

Insiders Place Their Bets

In other news, insider Frederic Vecchioli sold 15,251 shares of the business's stock in a transaction 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 that occurred on Friday, September 4th. The stock was purchased at an average price of GBX 556 per share, for a total transaction of £34,794.48. 7.95% of the stock is currently owned by 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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