StorageVault Canada (TSE:SVI) Hits New 1-Year High – Here’s Why

StorageVault Canada Inc. (TSE:SVI) hit a new 52-week high on Friday . The stock traded as high as C$5.23 and last traded at C$5.21, with a volume of 35058 shares trading hands. The stock had previously closed at C$5.16.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SVI. TD Securities lifted their target price on StorageVault Canada from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Canaccord Genuity Group raised their price target on shares of StorageVault Canada from C$5.00 to C$5.75 and gave the company a “buy” rating in a research report on Friday, October 24th. Raymond James Financial boosted their price target on shares of StorageVault Canada from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a report on Friday, October 24th. CIBC boosted their price objective on StorageVault Canada from C$4.75 to C$5.50 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, National Bankshares 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 report on Friday, October 24th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, StorageVault Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.81.

StorageVault Canada Price Performance

The firm has a market capitalization of C$1.91 billion, a PE ratio of -524.00 and a beta of 0.65. The company’s fifty day simple moving average is C$4.82 and its 200 day simple moving average is C$4.71.

StorageVault Canada (TSE:SVI) last released its quarterly earnings data on Wednesday, October 22nd. The company reported C$0.06 earnings per share (EPS) for the quarter. The company had revenue of C$88.52 million for the quarter. StorageVault Canada had a negative return on equity of 28.74% and a negative net margin of 17.21%.

StorageVault Canada Company Profile

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company’s property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations. The Portable Storage segment involves delivering a portable storage unit to the customer. The Management Division involves revenues generated from the management of stores owned by third parties.