CIBC Forecasts Strong Price Appreciation for Diversified Royalty (TSE:DIV) Stock

Diversified Royalty (TSE:DIV) had its target price lifted by investment analysts at CIBC from C$3.00 to C$3.10 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s target price would suggest a potential upside of 9.93% from the company’s current price.

Separately, Desjardins set a C$3.75 target price on Diversified Royalty and gave the company a “buy” rating in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diversified Royalty presently has an average rating of “Moderate Buy” and a consensus target price of C$3.62.

Diversified Royalty Stock Performance

Shares of Diversified Royalty stock opened at C$2.82 on Tuesday. The firm has a market cap of C$431.12 million, a PE ratio of 14.72 and a beta of 1.57. The company has a quick ratio of 1.74, a current ratio of 4.28 and a debt-to-equity ratio of 90.70. Diversified Royalty has a 52 week low of C$2.50 and a 52 week high of C$3.09. The business’s fifty day simple moving average is C$2.80 and its 200-day simple moving average is C$2.91.

About Diversified Royalty

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments.