Safestore (LON:SAFE) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Safestore Holdings Plc's share price has crossed above its 200-day moving average, peaking at GBX 670 ($9.01) during trading, with the last recorded price at GBX 666 ($8.96).
• Deutsche Bank has upgraded Safestore to a "buy" rating and increased the target price from GBX 770 ($10.36) to GBX 820 ($11.03).
• Insider Jane Bentall purchased 13,700 shares at an average cost of GBX 689 ($9.27), indicating confidence in the company's future performance.

Safestore Holdings Plc (LON:SAFE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 629.09 ($8.46) and traded as high as GBX 670 ($9.01). Safestore shares last traded at GBX 666 ($8.95), with a volume of 283,370 shares traded.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft upgraded Safestore to a "buy" rating and increased their price target for the stock from GBX 770 ($10.35) to GBX 820 ($11.02) in a report on Friday, August 1st.

Safestore Trading Up 0.5%

The business has a fifty day moving average of GBX 669.56 and a 200-day moving average of GBX 629.54. The company has a debt-to-equity ratio of 41.53, a quick ratio of 0.90 and a current ratio of 0.89. The company has a market capitalization of £1.45 billion, a P/E ratio of 5.49, a PEG ratio of 2.05 and a beta of 0.86.

Safestore (LON:SAFE - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported GBX 18.60 ($0.25) earnings per share (EPS) for the quarter. Safestore had a return on equity of 12.38% and a net margin of 118.32%. Analysts anticipate that Safestore Holdings Plc will post 42.6926692 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jane Bentall acquired 13,700 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were acquired at an average cost of GBX 689 ($9.26) per share, for a total transaction of £94,393 ($126,906.43). Company insiders own 2.77% of the company's stock.

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.