StorageVault Canada (TSE:SVI) Hits New 1-Year High – Here’s Why

Shares of StorageVault Canada Inc. (TSE:SVI) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$5.23 and last traded at C$5.21, with a volume of 35058 shares. The stock had previously closed at C$5.16.

Wall Street Analyst Weigh In

SVI has been the topic of several research reports. National Bankshares lifted their price target on shares of StorageVault Canada from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Friday, October 24th. CIBC lifted their target price on shares of StorageVault Canada from C$4.75 to C$5.50 and gave the stock 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 stock a “buy” rating in a research note on Friday, October 24th. Raymond James Financial raised their price objective on StorageVault Canada from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research note on Friday, October 24th. Finally, Royal Bank Of Canada boosted their target price on StorageVault Canada from C$5.75 to C$6.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$5.81.

StorageVault Canada Price Performance

The stock has a market capitalization of C$1.91 billion, a PE ratio of -524.00 and a beta of 0.65. The company has a 50 day moving average price of C$4.82 and a 200-day moving average price of C$4.71.

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

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.