Canaccord Genuity Group Upgrades StorageVault Canada (TSE:SVI) to “Buy”

StorageVault Canada (TSE:SVI) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Monday,BayStreet.CA reports. The brokerage presently has a C$4.50 target price on the stock, down from their prior target price of C$5.00. Canaccord Genuity Group’s price objective would indicate a potential upside of 12.50% from the company’s previous close.

SVI has been the subject of a number of other research reports. CIBC cut their price target on shares of StorageVault Canada from C$5.00 to C$4.75 in a research note on Monday. Scotiabank cut their target price on shares of StorageVault Canada from C$5.50 to C$5.25 in a research note on Thursday, January 30th. Cibc World Mkts upgraded shares of StorageVault Canada to a “hold” rating in a research note on Tuesday, December 17th. Finally, Raymond James raised shares of StorageVault Canada from a “hold” rating to a “moderate buy” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$5.47.

StorageVault Canada Stock Performance

StorageVault Canada stock opened at C$4.00 on Monday. The company has a market cap of C$1.47 billion, a P/E ratio of -29.11 and a beta of 0.89. StorageVault Canada has a 1-year low of C$3.55 and a 1-year high of C$5.48. The company has a fifty day simple moving average of C$3.87 and a 200 day simple moving average of C$4.28.

Insider Transactions at StorageVault Canada

In related news, insider StorageVault Canada Inc. purchased 50,000 shares of StorageVault Canada stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average price of C$3.95 per share, for a total transaction of C$197,440.00. Insiders bought a total of 58,100 shares of company stock worth $229,868 in the last quarter. 38.49% of the stock is currently owned by corporate 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.