Scotiabank Forecasts Strong Price Appreciation for StorageVault Canada (TSE:SVI) Stock

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 hoisted by investment analysts at Scotiabank from C$5.00 to C$5.50 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's target price would indicate a potential upside of 18.03% from the stock's current price.

A number of other equities analysts have also recently issued reports on the company. Raymond James Financial increased their target price 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. CIBC dropped their price objective on shares of StorageVault Canada from C$4.75 to C$4.25 in a research note on Friday, April 25th. Royal Bank Of Canada set a C$5.50 price objective on shares of StorageVault Canada and gave the company an "outperform" rating in a report on Wednesday, May 21st. Desjardins raised shares of StorageVault Canada from a "hold" rating to a "buy" rating and raised their price target for the company from C$4.25 to C$5.00 in a research report on Thursday, July 24th. Finally, TD Securities lifted their price target on StorageVault Canada from C$5.00 to C$5.50 and gave the company a "buy" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.13.

StorageVault Canada Trading Up 0.4%

StorageVault Canada stock traded up C$0.02 during midday trading on Tuesday, reaching C$4.66. The stock had a trading volume of 417,258 shares, compared to its average volume of 335,030. The company has a fifty day moving average price of C$4.18 and a two-hundred day moving average price of C$3.95. StorageVault Canada has a 12 month low of C$3.53 and a 12 month high of C$5.18. The company has a market capitalization of C$1.71 billion, a P/E ratio of -33.92 and a beta of 0.89.

Insider Activity

In other StorageVault Canada news, insider StorageVault Canada Inc. purchased 189,500 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was bought at an average cost 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. Company insiders own 38.49% of the company's stock.

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.