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

Key Points

• Safestore shares fell below their 200-day moving average of GBX 619.69, reaching GBX 520.50 and last trading at GBX 525.47 amid heavy volume.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average target price of GBX 709.33. Ratings include Buy from Jefferies, Add from Peel Hunt, and Hold from Deutsche Bank.
• Safestore operates 215 self-storage sites across seven European countries and has a £1.15 billion market capitalization; insiders own 7.91% of the company, with one recent insider purchase and one sale reported.

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 619.69 and traded as low as GBX 520.50. Safestore shares last traded at GBX 525.47, with a volume of 22,315,482 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SAFE shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 700 target price on shares of Safestore in a research note on Friday, September 4th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 788 price target on shares of Safestore in a research note on Friday, September 4th. Finally, Peel Hunt reissued an "add" rating and issued a GBX 640 price target on shares of Safestore in a 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 company's stock. According to data from MarketBeat, Safestore presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 709.33.

Safestore Stock Down 0.0%

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 business has a 50-day simple moving average of GBX 582.04 and a two-hundred day simple moving average of GBX 619.69. The stock has a market capitalization of £1.15 billion, a P/E ratio of 17.69, a PEG ratio of 2.05 and a beta of 1.14.

Insider Transactions at Safestore

In other news, insider Simon Clinton purchased 6,258 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average cost of GBX 556 per share, with a total value of £34,794.48. Also, insider Frederic Vecchioli sold 15,251 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of GBX 584, for a total transaction of £89,065.84. Company insiders own 7.91% 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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