Safestore (LON:SAFE) Stock Crosses Below 200 Day Moving Average - Should You Sell?

Key Points

• Safestore shares fell below their 200-day moving average of GBX 658.07, trading as low as GBX 589 and last changing hands at GBX 592.36.
• Despite the technical weakness, analysts maintain a positive outlook: Safestore has a consensus “Buy” rating and a GBX 734 price target, above its recent trading level.
• The company reported quarterly revenue of £120.60 million and EPS of GBX 18.90; insider Frederic Vecchioli also sold 15,251 shares for approximately £89,066.

Safestore Holdings Plc (LON:SAFE - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 658.07 and traded as low as GBX 589. Safestore shares last traded at GBX 592.36, with a volume of 262,558 shares.

Analyst Ratings Changes

A number of brokerages recently commented on SAFE. Peel Hunt restated an "add" rating and issued a GBX 640 price objective on shares of Safestore in a research report on Monday, July 13th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 828 target price on shares of Safestore in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of GBX 734.

Safestore Price Performance

The company has a debt-to-equity ratio of 49.06, a current ratio of 0.39 and a quick ratio of 0.90. The company has a 50-day simple moving average of GBX 610.43 and a 200-day simple moving average of GBX 658.07. The stock has a market cap of £1.29 billion, a PE ratio of 19.94, a PEG ratio of 2.05 and a beta of 1.14.

Safestore (LON:SAFE - Get Free Report) last issued its earnings results on Thursday, June 11th. The company reported GBX 18.90 EPS for the quarter. Safestore had a net margin of 26.93% and a return on equity of 2.86%. The company had revenue of £120.60 million for the quarter. Sell-side analysts anticipate that Safestore Holdings Plc will post 42.6926692 EPS for the current fiscal year.

Insider Activity at Safestore

In related news, insider Frederic Vecchioli sold 15,251 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of GBX 584, for a total value of £89,065.84. 7.90% of the stock is owned by company insiders.

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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