StorageVault Canada (TSE:SVI) Stock Dropped to "Outperform" by Raymond James Financial

Key Points

• Raymond James downgraded StorageVault Canada from “strong buy” to “outperform” and cut its price target to C$5.25 from C$5.75, implying about 28% upside from the reported C$4.09 share price.
• Despite the downgrade, analyst sentiment remains positive: six analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average target of C$5.86. RBC also raised its target to C$6.25.
• StorageVault reported a quarterly loss of C$0.02 per share on C$91.09 million in revenue, alongside negative net margin and return on equity. An insider separately bought 89,700 shares, while insiders collectively own 38.49% of the company.

StorageVault Canada (TSE:SVI - Get Free Report) was downgraded by analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a note issued to investors on Friday, BayStreet reports. They presently have a C$5.25 target price on the stock, down from their prior target price of C$5.75. Raymond James Financial's price target indicates a potential upside of 28.36% from the company's current price.

Separately, Royal Bank Of Canada raised their price target on StorageVault Canada from C$6.00 to C$6.25 and gave the company an "outperform" rating in a research note on Friday, July 24th. 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$5.86.

StorageVault Canada Trading Down 1.9%

Shares of TSE SVI traded down C$0.08 during mid-day trading on Friday, reaching C$4.09. The company had a trading volume of 515,362 shares, compared to its average volume of 313,118. The business's 50-day moving average is C$4.43 and its 200-day moving average is C$4.49. The stock has a market cap of C$1.50 billion, a price-to-earnings ratio of -99.76 and a beta of 0.70. StorageVault Canada has a 52 week low of C$4.02 and a 52 week high of C$5.39.

StorageVault Canada (TSE:SVI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported C($0.02) earnings per share for the quarter. The company had revenue of C$91.09 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

In related news, insider Access Self Storage Inc. purchased 89,700 shares of the business's stock in a transaction dated Wednesday, July 15th. The shares were acquired at an average cost of C$4.60 per share, for a total transaction of C$412,620.00. Following the acquisition, the insider owned 136,992,005 shares of the company's stock, valued at C$630,163,223. The trade was a 0.07% increase in their position. Corporate 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.

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