Scotiabank Cuts StorageVault Canada (CVE:SVI) Price Target to C$5.75

StorageVault Canada (CVE:SVI) had its price target dropped by equities researchers at Scotiabank from C$6.25 to C$5.75 in a report released on Friday, BayStreet.CA reports. Scotiabank’s price target would indicate a potential downside of 10.44% from the company’s current price.

SVI has been the subject of several other research reports. TD Securities decreased their target price on StorageVault Canada from C$6.50 to C$6.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. National Bankshares raised StorageVault Canada from a “sector perform” rating to an “outperform” rating and set a C$5.75 target price for the company in a research report on Thursday, July 18th. Raymond James decreased their target price on StorageVault Canada from C$6.25 to C$5.75 and set a “market perform” rating for the company in a research report on Friday, April 26th. Desjardins decreased their target price on StorageVault Canada from C$6.25 to C$6.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, Royal Bank of Canada decreased their target price on StorageVault Canada from C$6.25 to C$6.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$5.81.

StorageVault Canada Stock Performance

Shares of CVE SVI remained flat at C$6.42 during mid-day trading on Friday. The company had a trading volume of 168,227 shares, compared to its average volume of 147,135. The stock has a market capitalization of C$2.43 billion and a PE ratio of -71.33. The business has a fifty day moving average price of C$6.42 and a 200-day moving average price of C$6.42. The company has a debt-to-equity ratio of 687.87, a quick ratio of 2.53 and a current ratio of 3.04. StorageVault Canada has a twelve month low of C$3.68 and a twelve month high of C$7.39.

Insider Activity at StorageVault Canada

In related news, insider StorageVault Canada Inc. bought 80,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were bought at an average cost of C$4.60 per share, for a total transaction of C$368,000.00. Over the last 90 days, insiders bought 120,000 shares of company stock valued at $552,404.

StorageVault Canada Company Profile

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.