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

Key Points

• Desjardins cut StorageVault Canada’s price target from C$6.00 to C$5.25 while maintaining a “buy” rating, implying 24.7% upside from the previous close.
• Several analysts also lowered their targets, though overall sentiment remains positive: six analysts rate the stock “Buy” and one “Hold,” producing a consensus “Moderate Buy” rating and an average target of C$5.52.
• StorageVault shares closed at C$4.21, near their 52-week low, while the company reported a quarterly loss of C$0.02 per share on C$94.24 million in revenue. Insiders purchased 44,282 shares over the past three months.

StorageVault Canada (TSE:SVI - Get Free Report) had its price objective cut by analysts at Desjardins from C$6.00 to C$5.25 in a research report issued on Friday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. Desjardins's price objective would indicate a potential upside of 24.70% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. 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 note on Wednesday. Raymond James Financial downgraded StorageVault Canada from a "strong-buy" rating to a "moderate buy" rating and decreased their price target for the stock from C$5.75 to C$5.25 in a research note on Friday, October 2nd. Canaccord Genuity Group reduced their target price on StorageVault Canada from C$5.75 to C$5.25 and set a "buy" rating on the stock in a report on Friday. ATB Cormark Capital Markets decreased their target price 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. Finally, Royal Bank Of Canada boosted their price target on StorageVault Canada from C$6.00 to C$6.25 and gave the company an "outperform" rating in a report on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, StorageVault Canada has a consensus rating of "Moderate Buy" and an average price target of C$5.52.

StorageVault Canada Price Performance

Shares of TSE:SVI traded down C$0.02 during midday trading on Friday, reaching C$4.21. The company had a trading volume of 190,729 shares, compared to its average volume of 313,566. The stock has a market capitalization of C$1.54 billion, a P/E ratio of -102.68 and a beta of 0.79. The stock's fifty day moving average price is C$4.27 and its 200-day moving average price is C$4.46. StorageVault Canada has a one year low of C$4.02 and a one year high of C$5.39.

StorageVault Canada (TSE:SVI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The company reported C($0.02) EPS for the quarter. The company 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 the company's stock in a transaction dated Wednesday, September 23rd. The shares were acquired at an average cost 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 C$42,100. This trade represents a ∞ increase in their ownership of the stock. Insiders purchased 44,282 shares of company stock worth $184,627 over the last three months. 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.

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