StorageVault Canada (TSE:SVI) Trading 1.7% Higher – Still a Buy?

StorageVault Canada Inc. (TSE:SVI) shares rose 1.7% on Tuesday . The company traded as high as C$4.18 and last traded at C$4.17. Approximately 258,476 shares changed hands during trading, a decline of 32% from the average daily volume of 377,793 shares. The stock had previously closed at C$4.10.

Analyst Upgrades and Downgrades

SVI has been the subject of a number of recent analyst reports. CIBC dropped their price objective on StorageVault Canada from C$4.75 to C$4.25 in a report on Friday, April 25th. Desjardins decreased their price target on shares of StorageVault Canada from C$4.75 to C$4.25 and set a “hold” rating for the company in a research note on Monday, April 28th. Canaccord Genuity Group upgraded StorageVault Canada from a “hold” rating to a “buy” rating and dropped their target price for the stock from C$5.00 to C$4.50 in a report on Monday, February 24th. Raymond James increased their price target on shares of StorageVault Canada from C$4.70 to C$4.75 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada set a C$5.50 target price on StorageVault Canada and gave the stock an “outperform” rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.17.

StorageVault Canada Stock Performance

The company’s 50 day moving average price is C$3.82 and its 200-day moving average price is C$3.89. The stock has a market cap of C$1.53 billion, a P/E ratio of -30.35 and a beta of 0.89.

StorageVault Canada Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were paid a $0.0029 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.01 annualized dividend and a yield of 0.28%. StorageVault Canada’s dividend payout ratio is currently -7.28%.

Insider Buying and Selling at StorageVault Canada

In related news, Director Benjamin Harris sold 30,000 shares of StorageVault Canada stock in a transaction on Monday, May 5th. The shares were sold at an average price of C$3.78, for a total value of C$113,439.00. Also, insider StorageVault Canada Inc. bought 25,000 shares of StorageVault Canada stock in a transaction on Monday, March 31st. The shares were purchased at an average price of C$3.95 per share, for a total transaction of C$98,742.50. Insiders own 38.49% of the company’s stock.

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.