StorageVault Canada (TSE:SVI) Trading Up 1% – Should You Buy?

StorageVault Canada Inc. (TSE:SVI)’s stock price rose 1% during mid-day trading on Wednesday . The company traded as high as C$3.92 and last traded at C$3.91. Approximately 382,909 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 378,722 shares. The stock had previously closed at C$3.87.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SVI. Canaccord Genuity Group raised StorageVault Canada from a “hold” rating to a “buy” rating and reduced their price target for the stock from C$5.00 to C$4.50 in a research report on Monday, February 24th. Raymond James upgraded shares of StorageVault Canada from a “hold” rating to a “moderate buy” rating in a report on Friday, February 21st. Scotiabank reduced their price objective on shares of StorageVault Canada from C$5.50 to C$5.25 in a research note on Thursday, January 30th. CIBC lowered their target price on shares of StorageVault Canada from C$5.00 to C$4.75 in a research note on Monday, February 24th. Finally, Cibc World Mkts raised StorageVault Canada to a “hold” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$5.47.

StorageVault Canada Trading Up 2.3 %

The firm has a 50-day moving average of C$3.86 and a 200-day moving average of C$4.21. The stock has a market capitalization of C$1.47 billion, a price-to-earnings ratio of -29.11 and a beta of 0.89.

StorageVault Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.0029 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.01 annualized dividend and a dividend yield of 0.29%. StorageVault Canada’s dividend payout ratio (DPR) is presently -7.28%.

Insider Activity at StorageVault Canada

In other news, insider StorageVault Canada Inc. acquired 50,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of C$3.95 per share, for a total transaction of C$197,440.00. 38.49% of the stock is owned by company 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.