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

StorageVault Canada (TSE:SVI) had its price objective dropped by Desjardins from C$6.00 to C$5.25 in a research note issued on Friday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Desjardins‘s target price points to a potential upside of 24.70% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group dropped their price target on shares of StorageVault Canada from C$5.75 to C$5.25 and set a “buy” rating on the stock in a research note on Friday. ATB Cormark Capital Markets reduced their price objective on StorageVault Canada from C$6.00 to C$5.15 and set an “outperform” rating for the company in a research report on Friday. Raymond James Financial lowered StorageVault Canada from a “strong-buy” rating to a “moderate buy” rating and decreased their price objective for the stock from C$5.75 to C$5.25 in a report on Friday, October 2nd. Royal Bank Of Canada raised their target price on StorageVault Canada from C$6.00 to C$6.25 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, National Bank Financial cut their target price on StorageVault Canada from C$6.50 to C$6.00 and set an “outperform” rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.52.

StorageVault Canada Price Performance

Shares of SVI stock traded down C$0.02 during trading hours on Friday, reaching C$4.21. The stock had a trading volume of 190,729 shares, compared to its average volume of 313,566. The firm has a market capitalization of C$1.54 billion, a PE ratio of -102.68 and a beta of 0.79. The firm has a 50-day simple moving average of C$4.27 and a 200-day simple moving average of C$4.46. StorageVault Canada has a twelve month low of C$4.02 and a twelve month high of C$5.39.

StorageVault Canada (TSE:SVI) last posted its 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 net margin of 4.32% and a negative return on equity of 16.05%.

Insider Activity at StorageVault Canada

In related news, insider Storagevault Canada Inc. purchased 10,000 shares of StorageVault Canada stock in a transaction dated Wednesday, September 30th. The stock was bought at an average cost of C$4.13 per share, with a total value of C$41,300.00. Following the purchase, the insider owned 20,000 shares in the company, valued at approximately C$82,600. The trade was a 100.00% increase in their position. In the last 90 days, insiders have bought 44,282 shares of company stock worth $184,627. 38.49% of the stock is currently owned by insiders.

StorageVault Canada Company Profile

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.