StorageVault Canada (TSE:SVI) Stock Gets Price Target Trim from Desjardins

StorageVault Canada (TSE:SVI) had its price target cut by Desjardins from C$6.00 to C$5.25 in a research note published on Friday morning,BayStreet reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on SVI. Royal Bank Of Canada boosted their price target on shares of StorageVault Canada from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Raymond James Financial lowered shares of StorageVault Canada from a “strong-buy” rating to a “moderate buy” rating and reduced their price objective for the company from C$5.75 to C$5.25 in a research report on Friday, October 2nd. Canaccord Genuity Group reduced their price objective on shares of StorageVault Canada from C$5.75 to C$5.25 and set a “buy” rating for the company in a research report on Friday. ATB Cormark Capital Markets lowered their price objective on shares of StorageVault Canada from C$6.00 to C$5.15 and set an “outperform” rating on the stock in a research note on Friday. Finally, National Bank Financial lowered their price objective on shares of StorageVault Canada from C$6.50 to C$6.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Six analysts have rated the stock with a Buy rating. Based on data from MarketBeat, StorageVault Canada currently has a consensus rating of “Buy” and an average price target of C$5.52.

StorageVault Canada Price Performance

Shares of StorageVault Canada stock opened at C$4.23 on Friday. The firm has a market cap of C$1.55 billion, a price-to-earnings ratio of -36.78 and a beta of 0.79. The business has a fifty day simple moving average of C$4.27 and a 200-day simple moving average of C$4.46. StorageVault Canada has a fifty-two week low of C$4.02 and a fifty-two week high of C$5.39.

StorageVault Canada (TSE:SVI) last announced its earnings results on Wednesday, October 21st. The company reported C($0.02) earnings per share for the quarter. The firm had revenue of C$94.24 million for the quarter. StorageVault Canada had a negative net margin of 11.77% and a negative return on equity of 50.22%.

Insider Activity

In related news, insider Storagevault Canada Inc. acquired 10,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 10,000 shares of the company’s stock, valued at approximately C$42,100. The trade was a ∞ increase in their ownership of the stock. Insiders acquired a total of 44,282 shares of company stock valued at $184,627 over the last quarter. 38.49% of the stock is currently owned by corporate insiders.

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.