Savaria (TSE:SIS) Cut to Market Perform at Cormark

Cormark cut shares of Savaria (TSE:SIS) from a buy rating to a market perform rating in a research note published on Monday, MarketBeat Ratings reports. Cormark also issued estimates for Savaria’s FY2024 earnings at $0.91 EPS, FY2025 earnings at $1.15 EPS and FY2026 earnings at $1.34 EPS.

Several other brokerages have also recently weighed in on SIS. Stifel Nicolaus increased their price target on Savaria from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. TD Securities raised their price target on shares of Savaria from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Raymond James upped their price objective on shares of Savaria from C$25.00 to C$27.50 and gave the company an “outperform” rating in a research note on Friday, September 13th. Desjardins lifted their target price on shares of Savaria from C$25.00 to C$26.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, National Bankshares raised their target price on Savaria from C$22.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$25.50.

Savaria Price Performance

Shares of TSE:SIS opened at C$22.48 on Monday. The firm has a market cap of C$1.60 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 42.72 and a beta of 0.90. Savaria has a 52 week low of C$14.10 and a 52 week high of C$23.92. The firm’s fifty day moving average is C$21.98 and its 200-day moving average is C$19.56. 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 Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were paid a $0.045 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.54 annualized dividend and a dividend yield of 2.40%. Savaria’s dividend payout ratio is presently 83.08%.

Insider Buying and Selling

In other Savaria news, Senior Officer Jean-Philippe De Montigny purchased 19,545 shares of Savaria stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of C$22.96 per share, with a total value of C$448,753.20. Also, Senior Officer Sylvain Aubry sold 20,002 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$20.75, for a total transaction of C$415,041.50. In the last three months, insiders have sold 50,002 shares of company stock valued at $1,046,042. 17.45% of the stock is owned by company insiders.

Savaria Company Profile

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.