StorageVault Canada (TSE:SVI) Trading Down 1.2% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SVI shares. Canadian Imperial Bank of Commerce raised their price objective on shares of 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. National Bankshares raised their price target on shares of StorageVault Canada from C$6.00 to C$6.25 and gave the company an “outperform” rating in a report on Friday, October 24th. Canaccord Genuity Group boosted their price objective on shares of StorageVault Canada from C$5.00 to C$5.75 and gave the stock a “buy” rating in a research report on Friday, October 24th. Raymond James Financial increased their price objective on 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, TD Securities lifted their target price on 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. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, StorageVault Canada presently has an average rating of “Moderate Buy” and an average price target of C$5.81.

StorageVault Canada Price Performance

The business’s 50 day simple moving average is C$4.93 and its 200-day simple moving average is C$4.85. The stock has a market capitalization of C$1.79 billion, a P/E ratio of -490.00 and a beta of 0.64.

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