StorageVault Canada (TSE:SVI) Price Target Cut to C$5.25 by Analysts at Canaccord Genuity Group

StorageVault Canada (TSE:SVI) had its price objective dropped by investment analysts at Canaccord Genuity Group from C$5.75 to C$5.25 in a research note issued to investors on Friday, BayStreet reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target would suggest a potential upside of 24.70% from the stock’s current price.

A number of other analysts have also weighed in on SVI. Royal Bank Of Canada upped their price objective on shares of StorageVault Canada from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Raymond James Financial cut shares of StorageVault Canada from a “strong-buy” rating to a “moderate buy” rating and dropped their target price for the stock from C$5.75 to C$5.25 in a report on Friday, October 2nd. Finally, National Bank Financial cut their target price on shares of StorageVault Canada from C$6.50 to C$6.00 and set an “outperform” rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$5.52.

StorageVault Canada Price Performance

Shares of SVI stock traded down C$0.02 during mid-day trading on Friday, hitting C$4.21. The stock had a trading volume of 190,729 shares, compared to its average volume of 313,566. StorageVault Canada has a 12-month low of C$4.02 and a 12-month high of C$5.39. The firm has a market capitalization of C$1.54 billion, a P/E ratio of -102.68 and a beta of 0.79. The firm’s 50-day moving average is C$4.27 and its two-hundred day moving average is C$4.46.

StorageVault Canada (TSE:SVI) last posted its quarterly earnings results on Wednesday, October 21st. The company reported C($0.02) earnings per share (EPS) for the quarter. The firm had revenue of C$94.24 million for the quarter. StorageVault Canada had a negative return on equity of 16.05% and a negative net margin of 4.32%.

Insider Buying and Selling

In related news, insider Storagevault Canada Inc. bought 10,000 shares of the stock in a transaction on Wednesday, September 23rd. The stock was bought at an average price of C$4.21 per share, for a total transaction of C$42,100.00. Following the completion of the acquisition, the insider directly owned 10,000 shares in the company, valued at approximately C$42,100. This represents a ∞ increase in their ownership of the stock. Insiders have purchased a total of 44,282 shares of company stock valued at $184,627 over the last ninety days. Insiders own 38.49% of the company’s stock.

About StorageVault Canada

StorageVault currently owns and operates 275 storage locations across Canada. StorageVault owns 243 of these locations plus over 5,000 portable storage units representing over 13.8 million rentable square feet on 802 acres of land. StorageVault also provides last mile storage and logistics solutions and professional records management services, such as document and media storage, imaging and shredding services.