StorageVault Canada (TSE:SVI) Stock Price Target Lowered at National Bank Financial

Key Points

• National Bank Financial lowered StorageVault Canada’s price target from C$6.50 to C$6.00 but maintained an “outperform” rating, implying approximately 39.5% upside from the C$4.30 share price.
• Analyst sentiment remains favorable, with six Buy ratings and one Hold rating; the consensus rating is “Moderate Buy” with an average price target of C$5.82.
• Insiders purchased 44,282 shares worth approximately C$184,627 over the past 90 days, while the company operates 275 storage locations across Canada and reported quarterly revenue of C$91.09 million.

StorageVault Canada (TSE:SVI - Get Free Report) had its target price reduced by equities researchers at National Bank Financial from C$6.50 to C$6.00 in a report issued on Wednesday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 39.53% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada increased their price target on 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 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 note on Friday, October 2nd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, StorageVault Canada currently has an average rating of "Moderate Buy" and a consensus price target of C$5.82.

StorageVault Canada Stock Up 0.2%

Shares of TSE:SVI traded up C$0.01 during midday trading on Wednesday, reaching C$4.30. The company's stock had a trading volume of 88,601 shares, compared to its average volume of 310,196. The firm has a market capitalization of C$1.57 billion, a PE ratio of -104.88 and a beta of 0.79. StorageVault Canada has a twelve month low of C$4.02 and a twelve month high of C$5.39. The stock has a fifty day moving average of C$4.28 and a 200 day moving average of C$4.47.

StorageVault Canada (TSE:SVI - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported C($0.02) earnings per share (EPS) for the quarter. The business had revenue of C$91.09 million for the quarter. StorageVault Canada had a negative return on equity of 16.05% and a negative net margin of 4.32%.

Insider Buying and Selling

In other news, insider Storagevault Canada Inc. acquired 10,000 shares of the company's stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of C$4.13 per share, with a total value of C$41,300.00. Following the purchase, the insider directly owned 20,000 shares of the company's stock, valued at C$82,600. This trade represents a 100.00% increase in their ownership of the stock. In the last 90 days, insiders purchased 44,282 shares of company stock valued at $184,627. Corporate insiders own 38.49% of the company's stock.

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.

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