Safestore (LON:SAFE) Reaches New 1-Year High – Here’s Why

Safestore Holdings Plc (LON:SAFE) shares reached a new 52-week high on Thursday . The company traded as high as GBX 798 and last traded at GBX 791, with a volume of 111807 shares changing hands. The stock had previously closed at GBX 769.

Wall Street Analyst Weigh In

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

Safestore Stock Performance

The company’s fifty day simple moving average is GBX 725.87 and its 200 day simple moving average is GBX 691.10. The stock has a market capitalization of £1.82 billion, a P/E ratio of 6.18, a P/E/G ratio of 2.05 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.90 and a debt-to-equity ratio of 41.53.

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