Raymond James Raises Savaria (TSE:SIS) Price Target to C$27.50

Savaria (TSE:SIS) had its price target raised by Raymond James from C$25.00 to C$27.50 in a research note released on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

SIS has been the topic of several other reports. Desjardins lifted their price target on shares of Savaria from C$23.50 to C$24.00 and gave the company a buy rating in a research note on Tuesday, July 30th. TD Securities raised their price objective on Savaria from C$23.00 to C$24.00 and gave the company a buy rating in a report on Thursday, August 8th. Stifel Nicolaus upped their target price on Savaria from C$24.00 to C$25.00 and gave the stock a buy rating in a report on Tuesday, August 20th. Finally, National Bankshares raised their price target on Savaria from C$21.00 to C$22.00 in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Savaria has a consensus rating of Buy and an average price target of C$24.07.

Savaria Stock Performance

The stock’s 50-day moving average price is C$19.34 and its 200-day moving average price is C$17.92. Savaria has a fifty-two week low of C$12.21 and a fifty-two week high of C$20.99. The company has a market capitalization of C$1.49 billion, a P/E ratio of 32.00, a PEG ratio of 42.72 and a beta of 0.89. The company has a debt-to-equity ratio of 56.50, a quick ratio of 0.91 and a current ratio of 1.94.

Savaria (TSE:SIS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C$0.22 earnings per share for the quarter, topping the consensus estimate of C$0.20 by C$0.02. Savaria had a net margin of 5.25% and a return on equity of 8.95%. The company had revenue of C$221.34 million during the quarter, compared to analysts’ expectations of C$213.08 million. On average, research analysts predict that Savaria will post 1.1754488 earnings per share for the current fiscal year.

Savaria Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be issued a $0.045 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of ∞. This is a boost from Savaria’s previous monthly dividend of $0.04. The ex-dividend date is Monday, September 30th. Savaria’s dividend payout ratio is presently 80.00%.

About Savaria

Savaria Corporation provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally. The company operates in two segments, Accessibility and Patient Care. The Accessibility segment designs, manufactures, distributes, and installs a portfolio of accessibility products, including commercial and home elevators, stairlifts, platform lifts, and wheelchair lowered-floor accessible conversions for selected brands of minivans, personal, residential, or commercial applications.