StorageVault Canada (TSE:SVI) Releases Quarterly Earnings Results

StorageVault Canada (TSE:SVI) released its earnings results on Wednesday. The company reported C($0.02) earnings per share (EPS) for the quarter, FiscalAI reports. StorageVault Canada had a negative net margin of 4.32% and a negative return on equity of 16.05%. The company had revenue of C$94.24 million during the quarter.

StorageVault Canada Trading Up 0.2%

TSE:SVI opened at C$4.30 on Thursday. The firm’s fifty day simple moving average is C$4.28 and its 200 day simple moving average is C$4.46. StorageVault Canada has a twelve month low of C$4.02 and a twelve month high of C$5.39. The firm has a market capitalization of C$1.57 billion, a price-to-earnings ratio of -104.88 and a beta of 0.79.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. National Bank Financial cut their price target on shares of StorageVault Canada from C$6.50 to C$6.00 and set an “outperform” rating on the stock in a research note on Wednesday. Raymond James Financial cut shares of StorageVault Canada from a “strong-buy” rating to a “moderate buy” rating and lowered their price objective for the company from C$5.75 to C$5.25 in a research note on Friday, October 2nd. Finally, Royal Bank Of Canada upped their price objective on StorageVault Canada from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a report on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$5.82.

Insider Transactions at StorageVault Canada

In related news, insider Storagevault Canada Inc. purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average cost of C$4.13 per share, for a total transaction of C$41,300.00. Following the acquisition, the insider owned 20,000 shares in the company, valued at approximately C$82,600. This trade represents a 100.00% increase in their ownership of the stock. In the last three months, insiders acquired 44,282 shares of company stock valued at $184,627. 38.49% of the stock is currently owned by corporate insiders.

About StorageVault Canada

StorageVault currently owns and operates 275 storage locations across Canada. StorageVault owns 243 of these locations plus over 5,000 portable storage units representing over 13.8 million rentable square feet on 802 acres of land. StorageVault also provides last mile storage and logistics solutions and professional records management services, such as document and media storage, imaging and shredding services.