Diversified Royalty (TSE:DIV) Given New C$4.00 Price Target at Desjardins

Key Points

• Desjardins has increased its price target for Diversified Royalty (TSE:DIV) from C$3.75 to C$4.00, suggesting an upside of 18.69% from the last closing price.
• Other analysts, including CIBC and Raymond James, have also updated their price targets, with consensus ratings showing a majority recommending a "Buy" for the stock.
• The stock is currently trading at C$3.37, with a market capitalization of C$515.21 million and demonstrating notable liquidity with over 598,608 shares exchanged on a recent trading day.

Diversified Royalty (TSE:DIV - Get Free Report) had its price target hoisted by stock analysts at Desjardins from C$3.75 to C$4.00 in a research report issued on Thursday,BayStreet.CA reports. Desjardins' price target would suggest a potential upside of 19.76% from the company's current price.

Several other equities research analysts also recently commented on the company. Raymond James Financial upped their target price on Diversified Royalty from C$3.40 to C$3.60 and gave the company an "outperform" rating in a report on Thursday, June 19th. CIBC increased their price objective on Diversified Royalty from C$3.10 to C$3.20 and gave the stock a "neutral" rating in a research note on Thursday, June 19th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Diversified Royalty presently has an average rating of "Buy" and a consensus price target of C$3.70.

Diversified Royalty Price Performance

Shares of Diversified Royalty stock traded down C$0.03 during trading on Thursday, hitting C$3.34. The stock had a trading volume of 331,817 shares, compared to its average volume of 310,544. The company has a debt-to-equity ratio of 90.70, a current ratio of 4.28 and a quick ratio of 1.74. The firm has a market cap of C$510.62 million, a P/E ratio of 17.43 and a beta of 1.57. The business has a fifty day moving average of C$3.19 and a two-hundred day moving average of C$2.95. Diversified Royalty has a fifty-two week low of C$2.50 and a fifty-two week high of C$3.41.

About Diversified Royalty

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments.