Desjardins Boosts Savaria (TSE:SIS) Price Target to C$23.50

Savaria (TSE:SIS) had its price target lifted by Desjardins from C$22.50 to C$23.50 in a report issued on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock. Desjardins also issued estimates for Savaria’s Q2 2024 earnings at $0.70 EPS, Q3 2024 earnings at $0.20 EPS, FY2024 earnings at $0.67 EPS and FY2025 earnings at $1.12 EPS.

Several other analysts have also weighed in on SIS. Scotiabank upped their price objective on Savaria from C$17.00 to C$21.50 and gave the company an outperform rating in a report on Friday, March 8th. TD Securities upped their price objective on Savaria from C$20.00 to C$21.00 and gave the company a buy rating in a report on Friday, March 8th. Stifel Nicolaus cut their price objective on Savaria from C$25.00 to C$23.00 and set a buy rating for the company in a report on Friday, March 8th. Raymond James upped their target price on Savaria from C$18.00 to C$19.00 and gave the company an outperform rating in a report on Friday, March 8th. Finally, Cormark upped their target price on Savaria from C$18.00 to C$21.00 in a report on Friday, March 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of C$21.64.

Savaria Trading Up 0.1 %

Shares of SIS stock opened at C$16.74 on Wednesday. The company has a debt-to-equity ratio of 58.17, a quick ratio of 0.91 and a current ratio of 1.98. Savaria has a 1 year low of C$12.21 and a 1 year high of C$17.70. The stock has a fifty day moving average of C$16.60 and a two-hundred day moving average of C$15.20. The firm has a market capitalization of C$1.19 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 42.72 and a beta of 0.85.

Savaria (TSE:SIS) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01. The company had revenue of C$216.84 million during the quarter, compared to analyst estimates of C$214.78 million. Savaria had a return on equity of 7.55% and a net margin of 4.52%. As a group, research analysts expect that Savaria will post 0.7945271 EPS for the current year.

Savaria Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 28th were given a dividend of $0.043 per share. This represents a $0.52 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, March 27th. Savaria’s payout ratio is 91.23%.

Insider Activity at Savaria

In other Savaria news, Senior Officer Jean-Philippe De Montigny purchased 17,980 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were purchased at an average cost of C$14.94 per share, with a total value of C$268,621.20. 19.86% of the stock is owned by insiders.

About Savaria

Savaria Corporation provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally. The company operates in two segments, Accessibility and Patient Care. The Accessibility segment designs, manufactures, distributes, and installs a portfolio of accessibility products, including commercial and home elevators, stairlifts, platform lifts, and wheelchair lowered-floor accessible conversions for selected brands of minivans, personal, residential, or commercial applications.