Raymond James Financial Lowers StorageVault Canada (TSE:SVI) Price Target to C$5.50

Key Points

• Raymond James Financial cut its price target for StorageVault Canada from C$5.75 to C$5.50 but kept an "outperform" rating, implying roughly a 20.6% upside from the prior close.
• Analyst sentiment remains broadly positive with eight Buys and one Hold, an average rating of "Moderate Buy" and an average price target of C$5.78 (National Bank Financial separately set C$6.25).
• Shares traded at C$4.56 in the latest session (market cap ~C$1.67B); the company reported C($0.04) EPS last quarter and continues to show a negative net margin and return on equity.

StorageVault Canada (TSE:SVI - Get Free Report) had its price objective lowered by stock analysts at Raymond James Financial from C$5.75 to C$5.50 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's target price would indicate a potential upside of 20.61% from the stock's previous close.

Separately, National Bank Financial set a C$6.25 target price on StorageVault Canada and gave the company an "outperform" rating in a report on Monday. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$5.78.

StorageVault Canada Trading Up 1.8%

TSE SVI traded up C$0.08 during trading hours on Thursday, hitting C$4.56. 184,449 shares of the company's stock were exchanged, compared to its average volume of 349,655. The stock has a 50-day simple moving average of C$4.62 and a 200 day simple moving average of C$4.80. StorageVault Canada has a 1-year low of C$3.55 and a 1-year high of C$5.39. The firm has a market cap of C$1.67 billion, a price-to-earnings ratio of -134.12 and a beta of 0.64.

StorageVault Canada (TSE:SVI - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported C($0.04) EPS for the quarter. The business had revenue of C$85.22 million for the quarter. StorageVault Canada had a negative return on equity of 12.09% and a negative net margin of 3.74%.

StorageVault Canada Company Profile

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company's property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations. The Portable Storage segment involves delivering a portable storage unit to the customer. The Management Division involves revenues generated from the management of stores owned by third parties.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.