Safestore (LON:SAFE) Stock Price Up 16.8% - Here's Why

Safestore Holdings Plc (LON:SAFE - Get Free Report) rose 16.8% on Monday . The company traded as high as GBX 774.50 ($10.33) and last traded at GBX 764.50 ($10.20). Approximately 844,215 shares traded hands during trading, a decline of 33% from the average daily volume of 1,262,021 shares. The stock had previously closed at GBX 654.50 ($8.73).Analysts Set New Price TargetsSeparately, Deutsche Bank Aktiengesellschaft raised shares of Safestore to a "buy" rating and lifted their target price for the stock from GBX 770 to GBX 820 in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of GBX 820.View Our Latest Research Report on SafestoreSafestore Trading Up 15.0%The company has a quick ratio of 0.90, a current ratio of 0.89 and a debt-to-equity ratio of 41.53. The stock has a market capitalization of £1.64 billion, a P/E ratio of 559.02, a P/E/G ratio of 2.05 and a beta of 0.86. The firm's 50 day simple moving average is GBX 649.02 and its two-hundred day simple moving average is GBX 643.12. Insiders Place Their BetsIn related news, insider Simon Clinton purchased 4,656 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was purchased at an average cost of GBX 644 per share, with a total value of £29,984.64. Company insiders own 7.87% of the company's stock. Safestore Company Profile (Get Free Report)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.Read MoreFive stocks we like better than SafestoreWhy Invest in 5G? How to Invest in 5G Stocks Microsoft 365 Premium Marks the Next Phase of AI MonetizationGrowth Stocks: What They Are, What They Are NotCould Target’s Week of Discounts Come Full Circle for Investors?Should You Add These Warren Buffett Stocks to Your Portfolio?3 Reasons to Buy Sprouts Farmers Market Ahead of EarningsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Safestore Right Now?Before you consider Safestore, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Safestore wasn't on the list.While Safestore currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here