Desjardins Cuts StorageVault Canada (TSE:SVI) Price Target to C$4.25

StorageVault Canada (TSE:SVI - Free Report) had its price target lowered by Desjardins from C$4.75 to C$4.25 in a research note released on Monday,BayStreet.CA reports. The firm currently has a hold rating on the stock.

SVI has been the topic of several other research reports. Canaccord Genuity Group raised shares of StorageVault Canada from a "hold" rating to a "buy" rating and reduced their price target for the stock from C$5.00 to C$4.50 in a research note on Monday, February 24th. Scotiabank decreased their price target on shares of StorageVault Canada from C$5.50 to C$5.25 in a research note on Thursday, January 30th. CIBC lowered their price target on StorageVault Canada from C$4.75 to C$4.25 in a report on Friday, April 25th. Finally, Raymond James raised their price objective on StorageVault Canada from C$4.70 to C$4.75 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$5.13.

StorageVault Canada Price Performance

Shares of TSE:SVI traded up C$0.02 during trading hours on Monday, hitting C$3.87. 261,613 shares of the company's stock traded hands, compared to its average volume of 417,141. StorageVault Canada has a 1 year low of C$3.53 and a 1 year high of C$5.26. The firm has a market capitalization of C$1.42 billion, a P/E ratio of -28.17 and a beta of 0.89. The business has a fifty day moving average price of C$3.84 and a 200-day moving average price of C$3.95.

StorageVault Canada Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were given a $0.0029 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Monday, March 31st. StorageVault Canada's payout ratio is -7.28%.

Insider Buying and Selling at StorageVault Canada

In other news, insider StorageVault Canada Inc. bought 10,200 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of C$3.97 per share, for a total transaction of C$40,446.06. 38.49% of the stock is owned by insiders.

About StorageVault Canada

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.