Cormark Increases Alaris Royalty (TSE:AD) Price Target to C$22.00

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Alaris Royalty (TSE:AD) had its target price hoisted by investment analysts at Cormark from C$20.50 to C$22.00 in a research note issued to investors on Monday, BayStreet.CA reports. Cormark’s target price points to a potential upside of 12.99% from the company’s current price. Cormark also issued estimates for Alaris Royalty’s FY2019 earnings at $1.91 EPS and FY2020 earnings at $2.04 EPS.

A number of other equities analysts also recently issued reports on AD. Raymond James set a C$18.50 price objective on shares of Alaris Royalty and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Desjardins lifted their price objective on shares of Alaris Royalty from C$22.00 to C$22.50 in a report on Thursday, June 13th. National Bank Financial reaffirmed a “sector perform” rating and set a C$18.00 price objective on shares of Alaris Royalty in a report on Thursday, June 13th. CIBC lifted their price objective on shares of Alaris Royalty from C$19.00 to C$22.00 in a report on Thursday, March 7th. Finally, Royal Bank of Canada cut their price objective on shares of Alaris Royalty from C$25.00 to C$22.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th.

AD opened at C$19.47 on Monday. The company has a quick ratio of 1.86, a current ratio of 3.84 and a debt-to-equity ratio of 36.91. The stock has a market cap of $714.23 million and a P/E ratio of 9.50. The business’s fifty day moving average price is C$18.81. Alaris Royalty has a 1 year low of C$15.62 and a 1 year high of C$21.41.

Alaris Royalty (TSE:AD) last posted its quarterly earnings data on Monday, May 6th. The company reported C$0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.41 by C$0.01. The firm had revenue of C$27.66 million for the quarter, compared to analysts’ expectations of C$27.20 million. As a group, sell-side analysts forecast that Alaris Royalty will post 1.75 EPS for the current fiscal year.

In related news, Senior Officer Curtis James Krawetz sold 6,000 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$18.61, for a total value of C$111,660.00. Following the transaction, the insider now directly owns 36,721 shares of the company’s stock, valued at approximately C$683,377.81. Also, Director Jack Chuck Lee sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$18.61, for a total transaction of C$46,525.00. Following the completion of the transaction, the director now directly owns 219,087 shares in the company, valued at C$4,077,209.07. Insiders sold a total of 11,500 shares of company stock worth $215,125 over the last three months.

Alaris Royalty Company Profile

Alaris Royalty Corp. is a private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments. The firm does not invest in turnarounds and start-ups. It prefers to invest in the companies based in all industries except for those with a declining asset base, such as oil and gas resource companies, or any industry that carry the risk of obsolescence such as high tech and focuses on business services, professional services, information services, healthcare services, distribution & logistics, industrials, consumer products.

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