Safestore (LON:SAFE) Reaches New 12-Month Low - Here's Why

Key Points

• Safestore shares hit a new 52-week low, falling 4.6% to an intraday low of GBX 554.50 before last trading at GBX 589. The decline occurred amid heavy volume of approximately 34.6 million shares.
• Despite the sell-off, analysts maintain a positive outlook: Safestore has a consensus “Buy” rating and an average price target of GBX 734, with targets ranging from GBX 640 to GBX 828.
• Insider sentiment was supportive, as director Frederic Vecchioli bought 50,000 shares at GBX 603 for £301,500. The company reported quarterly EPS of GBX 18.90 and revenue of £120.6 million.

Safestore Holdings Plc (LON:SAFE - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 554.50 and last traded at GBX 589, with a volume of 34641332 shares changing hands. The stock had previously closed at GBX 611.50.

Wall Street Analyst Weigh In

SAFE has been the topic of several analyst reports. Jefferies Financial Group reiterated a "buy" rating and set a GBX 828 target price on shares of Safestore in a report on Thursday, June 11th. Peel Hunt reaffirmed an "add" rating and issued a GBX 640 price objective on shares of Safestore in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of GBX 734.

Safestore Stock Down 4.6%

The company has a debt-to-equity ratio of 49.06, a quick ratio of 0.90 and a current ratio of 0.39. The firm has a market capitalization of £1.27 billion, a P/E ratio of 19.64, a P/E/G ratio of 2.05 and a beta of 1.14. The stock has a fifty day moving average price of GBX 611.89 and a two-hundred day moving average price of GBX 668.70.

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. The company had revenue of £120.60 million during the quarter. Safestore had a return on equity of 2.86% and a net margin of 26.93%. Research analysts forecast that Safestore Holdings Plc will post 42.6926692 EPS for the current year.

Insider Transactions at Safestore

In related news, insider Frederic Vecchioli acquired 50,000 shares of Safestore stock in a transaction that occurred on Wednesday, June 24th. The stock was acquired at an average price of GBX 603 per share, for a total transaction of £301,500. 7.90% of the stock is owned by corporate 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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