Safestore (LON:SAFE) Shares Break Below 200-Day Moving Average – Here’s Why

Safestore Holdings Plc (LON:SAFE)’s stock price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SAFE shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 700 price objective on shares of Safestore in a research note on Friday, September 4th. 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. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 788 price objective on shares of Safestore in a research note on Friday, September 4th. Two equities 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 709.33.

Safestore Stock Performance

The stock has a market capitalization of £1.11 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.05 and a beta of 1.14. The stock has a 50 day moving average of GBX 579.84 and a 200 day moving average of GBX 618.47. The company has a debt-to-equity ratio of 49.06, a quick ratio of 0.90 and a current ratio of 0.39.

Insider Activity at Safestore

In other Safestore news, 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. Also, insider Simon Clinton purchased 6,258 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was acquired at an average price of GBX 556 per share, for a total transaction of £34,794.48. 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.