StorageVault Canada (TSE:SVI) Stock Gets Price Target Reduction from ATB Cormark Capital Markets

StorageVault Canada (TSE:SVI) had its price target reduced by ATB Cormark Capital Markets from C$6.00 to C$5.15 in a research report sent to investors on Friday morning,BayStreet reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

Several other analysts have also weighed in on SVI. Canaccord Genuity Group lowered their target price on shares of StorageVault Canada from C$5.75 to C$5.25 and set a “buy” rating for the company in a research note on Friday. Royal Bank Of Canada increased their target price on shares of StorageVault Canada from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a report on Friday, July 24th. National Bank Financial reduced their price target on shares of StorageVault Canada from C$6.50 to C$6.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 21st. Finally, Raymond James Financial lowered shares of StorageVault Canada from a “strong-buy” rating to a “moderate buy” rating and decreased their price target for the company from C$5.75 to C$5.25 in a report on Friday, October 2nd. Six equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, StorageVault Canada has an average rating of “Buy” and an average target price of C$5.52.

StorageVault Canada Stock Performance

Shares of TSE SVI opened at C$4.23 on Friday. The company has a market capitalization of C$1.55 billion, a price-to-earnings ratio of -36.78 and a beta of 0.79. StorageVault Canada has a twelve month low of C$4.02 and a twelve month high of C$5.39. The business has a 50 day simple moving average of C$4.27 and a 200-day simple moving average of C$4.46.

StorageVault Canada (TSE:SVI) last announced its quarterly earnings data on Wednesday, October 21st. The company reported C($0.02) earnings per share (EPS) for the quarter. StorageVault Canada had a negative return on equity of 50.22% and a negative net margin of 11.77%. The firm had revenue of C$94.24 million for the quarter.

Insider Buying and Selling

In related news, insider Storagevault Canada Inc. bought 10,000 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was bought at an average cost of C$4.21 per share, with a total value of C$42,100.00. Following the completion of the acquisition, the insider owned 10,000 shares of the company’s stock, valued at C$42,100. This trade represents a ? increase in their ownership of the stock. Insiders purchased 44,282 shares of company stock valued at $184,627 in the last three months. Insiders own 38.49% of the company’s stock.

About StorageVault Canada

StorageVault currently owns and operates 275 storage locations across Canada. StorageVault owns 243 of these locations plus over 5,000 portable storage units representing over 13.8 million rentable square feet on 802 acres of land. StorageVault also provides last mile storage and logistics solutions and professional records management services, such as document and media storage, imaging and shredding services.