StorageVault Canada (TSE:SVI) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

StorageVault Canada (TSE:SVI) had its price target increased by equities researchers at Royal Bank Of Canada from C$6.00 to C$6.25 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 29.67% from the stock’s previous close.

A number of other research firms have also commented on SVI. Raymond James Financial raised StorageVault Canada from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from C$5.50 to C$5.25 in a research note on Monday, June 1st. National Bank Financial set a C$6.25 target price on shares of StorageVault Canada and gave the company an “outperform” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, StorageVault Canada currently has an average rating of “Buy” and a consensus price target of C$5.78.

StorageVault Canada Stock Down 0.8%

SVI stock opened at C$4.82 on Friday. The firm has a 50 day moving average of C$4.61 and a two-hundred day moving average of C$4.67. The company has a market capitalization of C$1.76 billion, a price-to-earnings ratio of -117.56 and a beta of 0.77. StorageVault Canada has a 12 month low of C$4.11 and a 12 month high of C$5.39.

StorageVault Canada (TSE:SVI) last announced its earnings results on Wednesday, July 22nd. The company reported C($0.02) earnings per share (EPS) for the quarter. StorageVault Canada had a negative return on equity of 16.05% and a negative net margin of 4.32%.The company had revenue of C$91.09 million for the quarter.

Insiders Place Their Bets

In other StorageVault Canada news, insider Access Self Storage Inc. purchased 89,700 shares of the company’s stock in a transaction on Wednesday, July 15th. The shares were purchased at an average cost of C$4.60 per share, with a total value of C$412,620.00. Following the completion of the purchase, the insider owned 136,992,005 shares in the company, valued at C$630,163,223. This represents a 0.07% increase in their ownership of the stock. 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. 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.