Alaris Royalty Corp. (AD) Receives Outperform Rating from Scotiabank
Alaris Royalty Corp. (TSE:AD)‘s stock had its “outperform” rating reiterated by analysts at Scotiabank in a note issued to investors on Wednesday. They presently have a C$33.00 price target on the stock. Scotiabank’s price target suggests a potential upside of 54.86% from the stock’s current price.
A number of other equities analysts also recently issued reports on AD. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a C$31.00 price objective on shares of Alaris Royalty Corp. in a report on Wednesday, June 29th. Raymond James Financial Inc. cut their price objective on shares of Alaris Royalty Corp. from C$31.00 to C$30.00 in a report on Thursday, July 28th. RBC Capital Markets cut their price objective on shares of Alaris Royalty Corp. from C$31.00 to C$28.00 in a report on Thursday, July 28th. AltaCorp Capital downgraded shares of Alaris Royalty Corp. from an “outperform” rating to a “sector perform” rating in a report on Thursday, July 28th. Finally, Canaccord Genuity raised shares of Alaris Royalty Corp. from a “hold” rating to a “buy” rating and cut their price objective for the stock from C$28.00 to C$26.50 in a report on Tuesday, October 4th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$29.56.
Shares of Alaris Royalty Corp. (TSE:AD) traded down 0.42% during mid-day trading on Wednesday, reaching $21.22. 80,355 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $22.38 and its 200 day moving average price is $26.90. The company has a market cap of $771.05 million and a PE ratio of 14.06. Alaris Royalty Corp. has a 52-week low of $21.00 and a 52-week high of $31.20.
About Alaris Royalty Corp.
Alaris Royalty Corp. is a Canada-based company providing capital to private businesses (individually, a Private Company Partner and collectively the Partners). The Company’s operations consist of investments in private operating entities in the form of preferred limited partnership interests, preferred interest in limited liability corporations in the United States, or long-term license and royalty arrangements.
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