ATB Cormark Capital Markets Issues Positive Forecast for Savaria (TSE:SIS) Stock Price

Key Points

• ATB Cormark raised Savaria’s price target from C$35 to C$38 and maintained an “outperform” rating, implying 25.41% upside from the previous close.
• Analyst sentiment is broadly positive: Savaria has a consensus “Buy” rating, with one “Strong Buy” and eight “Buy” recommendations, and an average target of C$34.33.
• Savaria reported quarterly EPS of C$0.35 on revenue of C$245.78 million, while its shares traded at C$30.30 and insiders sold 62,500 shares worth approximately C$1.76 million during the quarter.

Savaria (TSE:SIS - Get Free Report) had its price target boosted by stock analysts at ATB Cormark Capital Markets from C$35.00 to C$38.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective suggests a potential upside of 25.41% from the company's previous close.

Other equities research analysts have also issued reports about the company. TD Securities raised Savaria to a "strong-buy" rating in a research report on Friday, July 24th. Desjardins increased their price objective on shares of Savaria from C$36.00 to C$39.00 and gave the stock a "buy" rating in a report on Friday. Scotia lifted their price objective on shares of Savaria from C$30.00 to C$33.00 and gave the company a "sector outperform" rating in a research report on Thursday, April 16th. National Bank Financial boosted their target price on shares of Savaria from C$30.50 to C$37.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Raymond James Financial upped their target price on shares of Savaria from C$32.00 to C$33.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$34.33.

Savaria Stock Performance

SIS stock traded down C$0.54 during midday trading on Friday, reaching C$30.30. The company had a trading volume of 213,749 shares, compared to its average volume of 179,088. The firm has a market capitalization of C$2.18 billion, a PE ratio of 27.55, a P/E/G ratio of 42.72 and a beta of 1.04. The stock has a 50 day moving average price of C$29.73 and a 200 day moving average price of C$27.82. Savaria has a fifty-two week low of C$20.10 and a fifty-two week high of C$31.95. The company has a quick ratio of 0.91, a current ratio of 1.71 and a debt-to-equity ratio of 31.42.

Savaria (TSE:SIS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported C$0.35 earnings per share for the quarter. The business had revenue of C$245.78 million for the quarter. Savaria had a return on equity of 12.41% and a net margin of 8.50%. Analysts anticipate that Savaria will post 1.2048518 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jean-Louis Chapdelaine sold 25,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$27.73, for a total transaction of C$693,250.00. Following the transaction, the director directly owned 100,000 shares of the company's stock, valued at approximately C$2,773,000. This trade represents a 20.00% decrease in their ownership of the stock. Also, Director Peter Allen Drutz sold 15,264 shares of Savaria stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of C$27.48, for a total transaction of C$419,454.72. Following the sale, the director owned 104,987 shares in the company, valued at approximately C$2,885,042.76. This represents a 12.69% decrease in their ownership of the stock. Over the last quarter, insiders have sold 62,500 shares of company stock worth $1,761,124. Insiders own 17.45% of the company's stock.

Savaria Company Profile

Savaria Corporation ( savaria.com ) is a global leader in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings.

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