ATB Cormark Capital Markets Has Lowered Expectations for Diversified Royalty (TSE:DIV) Stock Price

Diversified Royalty (TSE:DIV) had its price target lowered by analysts at ATB Cormark Capital Markets from C$7.25 to C$7.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would suggest a potential upside of 74.56% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Desjardins dropped their price target on Diversified Royalty from C$5.00 to C$4.75 and set a “buy” rating for the company in a research report on Friday. Raymond James Financial upped 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. Finally, Canaccord Genuity Group increased their price objective on Diversified Royalty from C$4.75 to C$5.50 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Diversified Royalty currently has an average rating of “Buy” and a consensus target price of C$5.25.

Diversified Royalty Price Performance

Shares of DIV stock traded down C$0.07 during trading hours on Friday, hitting C$4.01. The company’s stock had a trading volume of 2,934,832 shares, compared to its average volume of 454,181. The business has a fifty day moving average of C$4.65 and a 200-day moving average of C$4.39. The stock has a market cap of C$750.06 million, a price-to-earnings ratio of 20.05 and a beta of 1.11. Diversified Royalty has a twelve month low of C$3.37 and a twelve month high of C$4.98. The company has a current ratio of 2.84, a quick ratio of 1.74 and a debt-to-equity ratio of 103.05.

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

Insider Buying and Selling

In other Diversified Royalty news, insider Greg Gutmanis sold 30,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately C$990,297.25. The trade was a 12.81% decrease in their position. Also, Director Johnny Ciampi sold 147,004 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of C$4.77, for a total value of C$701,209.08. Following the transaction, the director directly owned 12,767 shares in the company, valued at approximately C$60,898.59. This represents a 92.01% decrease in their position. In the last 90 days, insiders have sold 330,000 shares of company stock worth $1,576,500. 0.52% of the stock is owned by company insiders.

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.