Desjardins Cuts Diversified Royalty (TSE:DIV) Price Target to C$4.75

Diversified Royalty (TSE:DIV) had its price objective reduced by equities researchers at Desjardins from C$5.00 to C$4.75 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 18.45% from the company’s current price.

Several other analysts have also recently weighed in on DIV. Raymond James Financial lifted their price objective on Diversified Royalty from C$4.70 to C$5.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Canaccord Genuity Group lifted their price target on Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, ATB Cormark Capital Markets decreased their price objective on Diversified Royalty from C$7.50 to C$7.25 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$5.25.

Diversified Royalty Trading Down 1.7%

Shares of DIV traded down C$0.07 during trading hours on Friday, reaching C$4.01. 2,934,832 shares of the company traded hands, compared to its average volume of 454,181. The company’s fifty day moving average price is C$4.65 and its two-hundred day moving average price is C$4.39. The company has a market capitalization of C$750.06 million, a price-to-earnings ratio of 20.05 and a beta of 1.11. The company has a quick ratio of 1.74, a current ratio of 2.84 and a debt-to-equity ratio of 103.05. Diversified Royalty has a 12 month low of C$3.37 and a 12 month high of C$4.98.

Diversified Royalty (TSE:DIV) last announced its quarterly earnings results on Wednesday, August 12th. The company reported C$0.02 earnings per share (EPS) for the quarter. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%. The company had revenue of C$19.48 million for the quarter. Equities research analysts predict that Diversified Royalty will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Diversified Royalty

In other news, Director Johnny Ciampi sold 147,004 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of C$4.77, for a total transaction of C$701,209.08. Following the completion of the transaction, the director directly owned 12,767 shares in the company, valued at C$60,898.59. This trade represents a 92.01% decrease in their ownership of the stock. Also, insider Greg Gutmanis sold 30,000 shares of Diversified Royalty stock in a transaction dated Friday, May 29th. The stock was sold at an average price of C$4.85, for a total value of C$145,500.00. Following the completion of the transaction, the insider directly owned 204,185 shares of the company’s stock, valued at approximately C$990,297.25. This represents a 12.81% decrease in their position. Insiders sold 330,000 shares of company stock worth $1,576,500 over the last three months. Corporate insiders own 0.52% of the company’s stock.

About Diversified Royalty

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.