StorageVault Canada (TSE:SVI) Rating Increased to Buy at Canaccord Genuity Group

StorageVault Canada (TSE:SVI) was upgraded by Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a C$4.50 price objective on the stock, down from their previous price objective of C$5.00. Canaccord Genuity Group’s price objective indicates a potential upside of 13.35% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Raymond James upgraded shares of StorageVault Canada from a “hold” rating to a “moderate buy” rating in a research report on Friday. Cibc World Mkts upgraded shares of StorageVault Canada to a “hold” rating in a research report on Tuesday, December 17th. CIBC lowered their price objective on StorageVault Canada from C$5.00 to C$4.75 in a report on Monday. Finally, Scotiabank reduced their target price on StorageVault Canada from C$5.50 to C$5.25 in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued 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 price target of C$5.47.

StorageVault Canada Price Performance

SVI stock traded down C$0.03 during mid-day trading on Monday, reaching C$3.97. 188,089 shares of the company’s stock were exchanged, compared to its average volume of 335,494. The company has a market cap of C$1.46 billion, a price-to-earnings ratio of -28.89 and a beta of 0.89. The stock’s 50 day moving average is C$3.87 and its 200 day moving average is C$4.29. StorageVault Canada has a 12-month low of C$3.55 and a 12-month high of C$5.48.

Insiders Place Their Bets

In other StorageVault Canada news, insider StorageVault Canada Inc. purchased 50,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of C$3.95 per share, with a total value of C$197,440.00. Insiders purchased 58,100 shares of company stock valued at $229,868 in the last three months. 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.