Scotiabank Forecasts Strong Price Appreciation for StorageVault Canada (TSE:SVI) Stock

StorageVault Canada (TSE:SVI) had its target price increased by investment analysts at Scotiabank from C$5.00 to C$5.50 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 17.27% from the stock’s previous close.

A number of other research analysts have also recently issued reports on SVI. Royal Bank Of Canada set a C$5.50 target price on shares of StorageVault Canada and gave the company an “outperform” rating in a research note on Wednesday, May 21st. CIBC lowered their target price on shares of StorageVault Canada from C$4.75 to C$4.25 in a report on Friday, April 25th. TD Securities boosted their price target on shares of StorageVault Canada from C$5.00 to C$5.50 and gave the company a “buy” rating in a report on Friday, July 25th. Desjardins raised shares of StorageVault Canada from a “hold” rating to a “buy” rating and boosted their price target for the company from C$4.25 to C$5.00 in a report on Thursday, July 24th. Finally, Raymond James Financial boosted their price objective on shares of StorageVault Canada from C$4.70 to C$4.75 and gave the company an “outperform” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, StorageVault Canada currently has an average rating of “Moderate Buy” and an average price target of C$5.13.

StorageVault Canada Trading Down 1.5%

TSE:SVI opened at C$4.69 on Tuesday. StorageVault Canada has a 1 year low of C$3.53 and a 1 year high of C$5.18. The firm has a 50 day moving average of C$4.15 and a 200-day moving average of C$3.94. The stock has a market capitalization of C$1.73 billion, a P/E ratio of -34.13 and a beta of 0.89.

Insider Activity

In other news, insider StorageVault Canada Inc. acquired 189,500 shares of the stock in a transaction dated Friday, May 30th. The shares were bought at an average cost of C$4.15 per share, for a total transaction of C$786,425.00. Also, Director Benjamin Harris sold 30,000 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of C$3.78, for a total transaction of C$113,439.00. 38.49% of the stock is owned by insiders.

StorageVault Canada Company Profile

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.