StorageVault Canada (TSE:SVI) Trading Down 1.2% – What’s Next?

StorageVault Canada Inc. (TSE:SVI)’s share price traded down 1.2% during trading on Friday . The stock traded as low as C$4.88 and last traded at C$4.90. 217,185 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 400,677 shares. The stock had previously closed at C$4.96.

Analyst Ratings Changes

A number of research firms have recently issued reports on SVI. Canadian Imperial Bank of Commerce boosted their price objective on StorageVault Canada from C$4.75 to C$5.50 and gave the company a “neutral” rating in a research report on Friday, October 24th. Desjardins boosted their price target on shares of StorageVault Canada from C$5.00 to C$6.00 and gave the company a “buy” rating in a report on Friday, October 24th. TD Securities increased their price objective on shares of StorageVault Canada from C$5.50 to C$6.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Raymond James Financial lifted their target price on shares of StorageVault Canada from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Canaccord Genuity Group upped their target price on shares of StorageVault Canada from C$5.00 to C$5.75 and gave the company a “buy” rating in a research note on Friday, October 24th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$5.81.

StorageVault Canada Stock Performance

The firm has a market cap of C$1.79 billion, a price-to-earnings ratio of -490.00 and a beta of 0.64. The business’s 50-day moving average is C$4.93 and its 200-day moving average is C$4.85.

StorageVault Canada (TSE:SVI) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported C$0.06 earnings per share for the quarter. The firm had revenue of C$88.52 million for the quarter. StorageVault Canada had a negative net margin of 17.21% and a negative return on equity of 28.74%.

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. The Portable Storage segment involves delivering a portable storage unit to the customer. The Management Division involves revenues generated from the management of stores owned by third parties.