Raymond James Issues Pessimistic Forecast for StorageVault Canada (TSE:SVI) Stock Price

StorageVault Canada (TSE:SVI) had its price target cut by analysts at Raymond James from C$5.25 to C$4.70 in a note issued to investors on Monday,BayStreet.CA reports. Raymond James’ target price points to a potential upside of 18.69% from the stock’s current price.

A number of other brokerages have also commented on SVI. CIBC set a C$5.00 price objective on StorageVault Canada and gave the stock a “negative” rating in a research report on Tuesday, December 17th. Scotiabank lowered their price target on shares of StorageVault Canada from C$5.75 to C$5.50 in a research report on Friday, October 25th. Cibc World Mkts upgraded shares of StorageVault Canada to a “hold” rating in a report on Tuesday, December 17th. National Bankshares raised their price objective on shares of StorageVault Canada from C$5.75 to C$6.00 in a research note on Wednesday, October 9th. Finally, Desjardins cut shares of StorageVault Canada from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, StorageVault Canada has a consensus rating of “Moderate Buy” and an average price target of C$5.65.

StorageVault Canada Price Performance

Shares of StorageVault Canada stock opened at C$3.96 on Monday. The firm has a 50 day simple moving average of C$4.01 and a 200 day simple moving average of C$4.47. StorageVault Canada has a fifty-two week low of C$3.82 and a fifty-two week high of C$5.48. The firm has a market cap of C$1.48 billion, a P/E ratio of -49.50 and a beta of 0.89.

StorageVault Canada (TSE:SVI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported C($0.02) EPS for the quarter, missing analysts’ consensus estimates of C$0.06 by C($0.08). The firm had revenue of C$78.96 million during the quarter. StorageVault Canada had a negative net margin of 9.49% and a negative return on equity of 14.77%.

Insider Buying and Selling

In related news, insider StorageVault Canada Inc. bought 25,000 shares of StorageVault Canada stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of C$3.92 per share, with a total value of C$97,930.00. In the last three months, insiders acquired 51,100 shares of company stock valued at $204,978. 38.49% of the stock is owned by corporate insiders.

About StorageVault Canada

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.