StorageVault Canada (TSE:SVI) Price Target Raised to C$5.50

Key Points

• Scotiabank has raised its price target for StorageVault Canada from C$5.00 to C$5.50, signaling a potential upside of 15.06% from the stock's previous close.
• The stock received multiple ratings upgrades, with six analysts issuing a buy rating, while one rated it as a sell.
• Insider trading activity shows confidence in the company, with insiders purchasing 196,000 shares valued at $810,525 over the last ninety days.

StorageVault Canada (TSE:SVI - Get Free Report) had its price target raised by research analysts at Scotiabank from C$5.00 to C$5.50 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 15.06% from the stock's previous close.

SVI has been the subject of several other reports. CIBC cut their price target on shares of StorageVault Canada from C$4.75 to C$4.25 in a report on Friday, April 25th. Raymond James Financial raised their price target on StorageVault Canada from C$4.70 to C$4.75 and gave the company an "outperform" rating in a report on Thursday, April 24th. Desjardins upgraded StorageVault Canada from a "hold" rating to a "buy" rating and lifted their price target for the company from C$4.25 to C$5.00 in a research note on Thursday, July 24th. Royal Bank Of Canada set a C$5.50 price objective on StorageVault Canada and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Finally, TD Securities raised their target price on StorageVault Canada from C$5.00 to C$5.50 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, StorageVault Canada presently has a consensus rating of "Moderate Buy" and an average price target of C$5.13.

StorageVault Canada Stock Performance

SVI traded up C$0.07 during trading on Tuesday, hitting C$4.78. The stock had a trading volume of 326,565 shares, compared to its average volume of 333,897. The firm has a market capitalization of C$1.76 billion, a P/E ratio of -34.79 and a beta of 0.89. StorageVault Canada has a twelve month low of C$3.53 and a twelve month high of C$5.18. The company's 50-day moving average price is C$4.11 and its 200 day moving average price is C$3.93.

Insider Buying and Selling at StorageVault Canada

In other news, insider StorageVault Canada Inc. bought 189,500 shares of the stock in a transaction on Friday, May 30th. The shares were bought at an average price of C$4.15 per share, with a total value of C$786,425.00. Also, Director Benjamin Harris sold 30,000 shares of StorageVault Canada stock in a transaction on Monday, May 5th. The stock was sold at an average price of C$3.78, for a total value of C$113,439.00. Over the last ninety days, insiders have purchased 196,000 shares of company stock valued at $810,525. 38.49% of the stock is currently owned by insiders.

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.

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