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

StorageVault Canada (TSE:SVI) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday,BayStreet.CA reports. The firm 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 target would indicate a potential upside of 13.35% from the stock’s previous close.

SVI has been the topic of a number of other reports. CIBC cut their price target on StorageVault Canada from C$5.00 to C$4.75 in a report on Monday. Scotiabank reduced their target price 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. Finally, Cibc World Mkts upgraded shares of StorageVault Canada to a “hold” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$5.47.

StorageVault Canada Stock Performance

StorageVault Canada stock traded down C$0.03 during midday trading on Monday, hitting C$3.97. 188,089 shares of the company’s stock were exchanged, compared to its average volume of 335,494. The firm has a 50-day moving average of C$3.87 and a two-hundred day moving average of C$4.29. StorageVault Canada has a 12 month low of C$3.55 and a 12 month high of C$5.48. The company has a market cap of C$1.46 billion, a PE ratio of -28.89 and a beta of 0.89.

Insider Activity

In other StorageVault Canada news, insider StorageVault Canada Inc. purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of C$3.95 per share, for a total transaction of C$197,440.00. Insiders have purchased 58,100 shares of company stock valued at $229,868 over the last ninety days. 38.49% of the stock is currently 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.