Savaria (TSE:SIS) Stock Price Breaks Above 50 Day Moving Average - Here's What Happened

Key Points

• Savaria shares broke above their 50-day moving average, reaching C$30.20 and closing at C$30.13, up 3.2% with approximately 319,964 shares traded.
• Analyst sentiment remains positive: the stock has a consensus “Buy” rating from MarketBeat, with a consensus price target of C$34.35; TD Securities upgraded it to “Strong Buy.”
• Savaria reported quarterly EPS of C$0.35 on revenue of C$245.78 million, while insiders sold 74,511 shares worth roughly C$2.24 million over the past three months.

Shares of Savaria Co. (TSE:SIS - Get Free Report) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$28.98 and traded as high as C$30.20. Savaria shares last traded at C$30.13, with a volume of 319,964 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. TD Securities raised Savaria to a "strong-buy" rating in a report on Friday, July 24th. Desjardins lifted their price target on Savaria from C$36.00 to C$39.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Ventum Financial set a C$34.50 price target on shares of Savaria and gave the stock a "buy" rating in a research note on Thursday, September 10th. ATB Cormark Capital Markets increased their price objective on shares of Savaria from C$35.00 to C$38.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Finally, TD raised their price objective on shares of Savaria from C$35.00 to C$37.00 and gave the company a "buy" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$34.35.

Savaria Trading Up 3.2%

The firm has a 50 day simple moving average of C$28.98 and a 200 day simple moving average of C$28.85. The company has a current ratio of 1.72, a quick ratio of 0.91 and a debt-to-equity ratio of 29.43. The firm has a market capitalization of C$2.17 billion, a PE ratio of 24.90, a P/E/G ratio of 42.72 and a beta of 0.97.

Savaria (TSE:SIS - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported C$0.35 EPS for the quarter. The company had revenue of C$245.78 million during the quarter. Savaria had a return on equity of 13.41% and a net margin of 9.27%. Equities analysts expect that Savaria Co. will post 1.2048518 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jean-Philippe De Montigny sold 10,000 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of C$29.21, for a total transaction of C$292,100.00. Following the transaction, the insider owned 82,560 shares in the company, valued at C$2,411,577.60. This represents a 10.80% decrease in their ownership of the stock. Also, Director Les Teague sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of C$29.52, for a total transaction of C$147,600.00. Insiders sold 74,511 shares of company stock valued at $2,239,313 over the last three months. Insiders own 17.45% of the company's stock.

About Savaria

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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