Alaris Royalty (TSE:AD) was upgraded by stock analysts at CIBC from a “neutral” rating to an “outperform” rating in a research report issued on Friday, BayStreet.CA reports. The firm currently has a C$25.00 target price on the stock, up from their prior target price of C$22.00. CIBC’s target price would indicate a potential upside of 27.62% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. National Bank Financial lowered their target price on Roots from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a research report on Thursday, June 13th. Royal Bank of Canada lowered Zayo Group from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $33.00 to $35.00 in a research report on Wednesday, May 8th. Raymond James increased their price target on Tempur Sealy International from $77.00 to $90.00 and gave the company a “strong-buy” rating in a research report on Monday, June 24th. Desjardins increased their price target on Alaris Royalty from C$22.00 to C$22.50 in a research report on Thursday, June 13th. Finally, Cormark lowered their price target on Canopy Growth from C$70.00 to C$65.00 in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of C$21.50.
Shares of TSE:AD traded up C$0.25 during trading on Friday, reaching C$19.59. 492,059 shares of the stock were exchanged, compared to its average volume of 165,889. The company has a debt-to-equity ratio of 36.91, a quick ratio of 1.86 and a current ratio of 3.84. Alaris Royalty has a 1-year low of C$15.62 and a 1-year high of C$21.41. The stock has a fifty day moving average price of C$19.04. The stock has a market capitalization of $730.65 million and a price-to-earnings ratio of 9.68.
Alaris Royalty (TSE:AD) last issued its earnings results on Monday, May 6th. The company reported C$0.42 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.41 by C$0.01. The firm had revenue of C$27.66 million for the quarter, compared to analyst estimates of C$27.20 million. Equities analysts anticipate that Alaris Royalty will post 1.71 earnings per share for the current fiscal year.
In other Alaris Royalty news, Director Gary Patterson sold 3,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of C$18.98, for a total value of C$56,940.00. Following the completion of the transaction, the director now owns 28,337 shares in the company, valued at approximately C$537,836.26. Also, Director Jack Chuck Lee sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$18.61, for a total value of C$46,525.00. Following the completion of the transaction, the director now owns 219,087 shares of the company’s stock, valued at approximately C$4,077,209.07. Insiders sold a total of 11,500 shares of company stock valued at $215,125 over the last three months.
Alaris Royalty Company Profile
Alaris Royalty Corp. is a private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments. The firm does not invest in turnarounds and start-ups. It prefers to invest in the companies based in all industries except for those with a declining asset base, such as oil and gas resource companies, or any industry that carry the risk of obsolescence such as high tech and focuses on business services, professional services, information services, healthcare services, distribution & logistics, industrials, consumer products.
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