Safestore (LON:SAFE) Shares Cross Above 200 Day Moving Average – Here’s Why

Safestore Holdings Plc (LON:SAFE)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 694.13 and traded as high as GBX 810. Safestore shares last traded at GBX 799, with a volume of 580,973 shares.

Analysts Set New Price Targets

Separately, Jefferies Financial Group increased their price target on shares of Safestore from GBX 648 to GBX 682 and gave the company a “hold” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 751.

Safestore Stock Up 1.1%

The stock’s 50 day simple moving average is GBX 733.40 and its two-hundred day simple moving average is GBX 695.12. The firm has a market cap of £1.76 billion, a P/E ratio of 6.00, a P/E/G ratio of 2.05 and a beta of 0.86. The company has a debt-to-equity ratio of 41.53, a current ratio of 0.89 and a quick ratio of 0.90.

Safestore (LON:SAFE) last posted its quarterly earnings data on Thursday, January 15th. The company reported GBX 40.10 EPS for the quarter. Safestore had a return on equity of 12.38% and a net margin of 118.32%. As a group, research analysts forecast that Safestore Holdings Plc will post 42.6926692 earnings per share for the current year.

About Safestore

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.