Raymond James Financial Forecasts Strong Price Appreciation for Savaria (TSE:SIS) Stock

Savaria (TSE:SIS) had its price target upped by analysts at Raymond James Financial from C$32.00 to C$33.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target would indicate a potential upside of 15.42% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Scotiabank raised their price objective on shares of Savaria from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. ATB Cormark Capital Markets lifted their price target on Savaria from C$30.00 to C$32.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Desjardins boosted their price target on Savaria from C$27.00 to C$32.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. TD boosted their price objective on shares of Savaria from C$31.00 to C$35.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, National Bank Financial upped their price objective on Savaria from C$30.00 to C$30.50 and gave the company an “outperform” rating in a research report on Friday, March 6th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$32.61.

Savaria Trading Down 0.7%

Shares of Savaria stock opened at C$28.59 on Wednesday. The company has a fifty day simple moving average of C$26.16 and a 200-day simple moving average of C$23.74. The stock has a market cap of C$2.06 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 42.72 and a beta of 0.86. Savaria has a 12-month low of C$16.13 and a 12-month high of C$30.41. The company has a current ratio of 1.61, a quick ratio of 0.91 and a debt-to-equity ratio of 32.13.

Savaria (TSE:SIS) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C$0.37 earnings per share (EPS) for the quarter. The company had revenue of C$241.78 million for the quarter. Savaria had a return on equity of 11.10% and a net margin of 7.53%. On average, equities analysts forecast that Savaria will post 1.2048518 EPS for the current fiscal year.

Insider Buying and Selling at Savaria

In related news, insider Jean-Philippe De Montigny purchased 2,420 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought at an average price of C$25.50 per share, with a total value of C$61,710.00. Following the completion of the purchase, the insider directly owned 92,260 shares in the company, valued at approximately C$2,352,630. This trade represents a 2.69% increase in their position. 17.45% of the stock is currently owned by insiders.

Trending Headlines about Savaria

Here are the key news stories impacting Savaria this week:

• Positive Sentiment: Desjardins raised its price target to C$35.00 and kept a “buy” rating — about a 22.8% upside from current levels. BayStreet.CA
• Positive Sentiment: Scotia raised its target to C$33.00 and set a “sector outperform” rating — ~15.7% implied upside. BayStreet.CA
• Positive Sentiment: ATB Cormark Capital Markets bumped its target to C$35.00 and kept an “outperform” call — ~21.6% upside. BayStreet.CA
• Positive Sentiment: Raymond James raised its target to C$33.00 and maintained an “outperform” rating — ~14.7% implied upside. BayStreet.CA
• Positive Sentiment: TD increased its target to C$35.00 and kept a “buy” rating — ~21.6% upside; coverage also noted on TickerReport. BayStreet.CA TickerReport

About Savaria

Savaria Corporation ( savaria.com ) is a global leader in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings.