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

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

Analyst Ratings Changes

SVI has been the subject of several recent analyst reports. CIBC dropped their price target on StorageVault Canada from C$5.00 to C$4.75 in a research note on Monday, February 24th. Cibc World Mkts raised shares of StorageVault Canada to a “hold” rating in a report on Tuesday, December 17th. Scotiabank cut their target price on shares of StorageVault Canada from C$5.50 to C$5.25 in a research note on Thursday, January 30th. Canaccord Genuity Group upgraded shares of StorageVault Canada from a “hold” rating to a “buy” rating and decreased their price target for the stock from C$5.00 to C$4.50 in a research note on Monday, February 24th. Finally, Raymond James upgraded StorageVault Canada from a “hold” rating to a “moderate buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, StorageVault Canada presently has an average rating of “Moderate Buy” and a consensus price target of C$5.47.

StorageVault Canada Stock Up 2.3 %

The company has a 50 day simple moving average of C$3.86 and a two-hundred day simple moving average of C$4.21. The company has a market capitalization of C$1.47 billion, a P/E ratio of -29.11 and a beta of 0.89.

StorageVault Canada Cuts Dividend

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

Insider Transactions at StorageVault Canada

In related news, insider StorageVault Canada Inc. bought 50,000 shares of StorageVault Canada stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of C$3.95 per share, with a total value of C$197,440.00. Company 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.