Brokerages Set Alaris Royalty Corp. (AD) PT at $23.86
Alaris Royalty Corp. (TSE:AD) has earned an average rating of “Buy” from the eight analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$23.86.
AD has been the topic of a number of analyst reports. Scotiabank cut their price target on shares of Alaris Royalty Corp. from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 10th. National Bank Financial increased their price target on shares of Alaris Royalty Corp. from C$24.00 to C$25.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Raymond James Financial, Inc. cut their price target on shares of Alaris Royalty Corp. from C$23.00 to C$22.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 10th. CIBC dropped their target price on shares of Alaris Royalty Corp. from C$24.00 to C$20.00 in a report on Thursday, May 11th. Finally, Desjardins downgraded shares of Alaris Royalty Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th.
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Alaris Royalty Corp. (TSE:AD) traded down 0.19% on Friday, hitting $20.53. 82,175 shares of the stock traded hands. The company’s 50 day moving average price is $21.75 and its 200-day moving average price is $21.81. Alaris Royalty Corp. has a 12-month low of $17.80 and a 12-month high of $24.55. The stock has a market capitalization of $748.20 million and a P/E ratio of 12.37.
The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.62 annualized dividend and a yield of 7.88%.
In other news, Director Mary C. Ritchie sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of C$20.18, for a total transaction of C$100,900.00. Also, insider Darren John Driscoll purchased 1,800 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were acquired at an average cost of C$20.20 per share, with a total value of C$36,360.00. Insiders have acquired a total of 7,800 shares of company stock worth $173,700 over the last 90 days.
Alaris Royalty Corp. Company Profile
Alaris Royalty Corp. is a Canada-based company providing capital to private businesses (individually, a Private Company Partner and collectively the Partners). The Company’s operations consist of investments in private operating entities in the form of preferred limited partnership interests, preferred interest in limited liability corporations in the United States, or long-term license and royalty arrangements.
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