Safestore's (SAFE) Add Rating Reaffirmed at Peel Hunt

Key Points

• Peel Hunt reaffirmed its “add” rating on Safestore and kept a GBX 640 price target, implying about 5.5% upside from the stock’s current level.
• Other analysts remain constructive: Jefferies reiterated a buy rating with a GBX 828 target, and MarketBeat says Safestore’s consensus rating is Buy with an average target of GBX 762.67.
• Safestore shares rose to GBX 606.50 on Monday, while an insider purchase added a positive signal: Frederic Vecchioli bought 50,000 shares at GBX 603 each.

Safestore (LON:SAFE - Get Free Report)'s stock had its "add" rating restated by equities researchers at Peel Hunt in a research report issued to clients and investors on Monday,London Stock Exchange reports. They currently have a GBX 640 price objective on the stock. Peel Hunt's price target suggests a potential upside of 5.52% from the stock's current price.

Separately, Jefferies Financial Group reissued a "buy" rating and issued a GBX 828 target price on shares of Safestore in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 762.67.

Safestore Price Performance

LON SAFE traded up GBX 6.50 during trading hours on Monday, hitting GBX 606.50. 169,874 shares of the company's stock traded hands, compared to its average volume of 2,452,624. Safestore has a 52-week low of GBX 578.70 and a 52-week high of GBX 849.50. The company has a market capitalization of £1.32 billion, a PE ratio of 20.42, a PEG ratio of 2.05 and a beta of 1.15. 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 firm's 50-day moving average is GBX 625.41 and its 200-day moving average is GBX 697.80.

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

Insider Activity

In other news, insider Frederic Vecchioli acquired 50,000 shares of Safestore stock in a transaction that occurred on Wednesday, June 24th. The shares were acquired at an average price of GBX 603 per share, with a total value of £301,500. 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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