StorageVault Canada (CVE:SVI) Price Target Cut to C$6.00

StorageVault Canada (CVE:SVI) had its target price cut by Royal Bank of Canada from C$6.25 to C$6.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential downside of 6.54% from the stock’s current price.

A number of other research firms have also recently commented on SVI. Scotiabank cut their price target on shares of StorageVault Canada from C$6.50 to C$6.25 and set an “outperform” rating on the stock in a report on Friday. TD Securities lowered their price objective on shares of StorageVault Canada from C$6.50 to C$6.00 and set a “buy” rating for the company in a research report on Thursday. Desjardins reduced their target price on shares of StorageVault Canada from C$6.25 to C$6.00 and set a “buy” rating on the stock in a research report on Friday. National Bankshares lowered their price target on StorageVault Canada from C$6.00 to C$5.75 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Raymond James reduced their price objective on StorageVault Canada from C$6.25 to C$5.75 and set a “market perform” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$6.06.

StorageVault Canada Price Performance

SVI remained flat at C$6.42 during trading hours on Friday. The company had a trading volume of 168,227 shares, compared to its average volume of 147,135. The company’s 50-day moving average price is C$6.42 and its 200-day moving average price is C$6.42. The firm has a market capitalization of C$2.43 billion and a price-to-earnings ratio of -71.33. The company has a debt-to-equity ratio of 687.87, a current ratio of 3.04 and a quick ratio of 2.53. StorageVault Canada has a one year low of C$3.68 and a one year high of C$7.39.

Insiders Place Their Bets

In related news, insider StorageVault Canada Inc. purchased 19,200 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were acquired at an average cost of C$5.17 per share, for a total transaction of C$99,179.52.

About StorageVault Canada

StorageVault Canada Inc owns, manages, and rents self-storage and portable storage space in Canada. It operates through three segments: Self Storage, Portable Storage, and Management Division. The company manages 45 stores owned by third parties; and stores, shreds, and manages documents and records for customers.