Canaccord Genuity Group Upgrades StorageVault Canada (TSE:SVI) to “Buy”

StorageVault Canada (TSE:SVI) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a C$4.50 price objective on the stock, down from their prior price objective of C$5.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 12.50% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Scotiabank cut their price target on shares of StorageVault Canada from C$5.50 to C$5.25 in a report on Thursday, January 30th. Raymond James upgraded shares of StorageVault Canada from a “hold” rating to a “moderate buy” rating in a report on Friday, February 21st. Cibc World Mkts upgraded shares of StorageVault Canada to a “hold” rating in a report on Tuesday, December 17th. Finally, CIBC decreased their price target on shares of StorageVault Canada from C$5.00 to C$4.75 in a research report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, StorageVault Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.47.

StorageVault Canada Stock Performance

StorageVault Canada stock opened at C$4.00 on Monday. The company has a market capitalization of C$1.47 billion, a P/E ratio of -29.11 and a beta of 0.89. The firm’s fifty day simple moving average is C$3.87 and its 200-day simple moving average is C$4.28. StorageVault Canada has a 1-year low of C$3.55 and a 1-year high of C$5.48.

Insider Transactions at StorageVault Canada

In other news, insider StorageVault Canada Inc. bought 50,000 shares of the stock in a transaction on Friday, January 17th. The stock was purchased at an average price of C$3.95 per share, with a total value of C$197,440.00. Over the last three months, insiders have purchased 58,100 shares of company stock worth $229,868. Corporate insiders own 38.49% of the company’s stock.

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.