Raymond James Increases Savaria (TSE:SIS) Price Target to C$27.50

Savaria (TSE:SIS) had its price objective increased by Raymond James from C$25.00 to C$27.50 in a research note published on Friday morning, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock. Raymond James also issued estimates for Savaria’s Q3 2024 earnings at $0.24 EPS, FY2024 earnings at $0.88 EPS and FY2025 earnings at $1.09 EPS.

SIS has been the subject of several other research reports. Stifel Nicolaus raised their price target on shares of Savaria from C$24.00 to C$25.00 and gave the stock a buy rating in a research note on Tuesday, August 20th. National Bankshares lifted their price objective on Savaria from C$21.00 to C$22.00 in a report on Thursday, August 8th. TD Securities increased their target price on shares of Savaria from C$23.00 to C$24.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Finally, Desjardins boosted their target price on shares of Savaria from C$23.50 to C$24.00 and gave the company a buy rating in a report on Tuesday, July 30th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of C$24.07.

Savaria Stock Performance

Savaria has a 52-week low of C$12.21 and a 52-week high of C$21.23. The stock has a 50-day moving average price of C$19.34 and a 200-day moving average price of C$17.92. The company has a quick ratio of 0.91, a current ratio of 1.94 and a debt-to-equity ratio of 56.50. The company has a market cap of C$1.51 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 42.72 and a beta of 0.89.

Savaria (TSE:SIS) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.20 by C$0.02. The firm had revenue of C$221.34 million during the quarter, compared to the consensus estimate of C$213.08 million. Savaria had a return on equity of 8.95% and a net margin of 5.25%. On average, sell-side analysts forecast that Savaria will post 1.1754488 EPS for the current fiscal year.

Savaria Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 30th will be issued a $0.045 dividend. This represents a $0.54 annualized dividend and a yield of ∞. This is an increase from Savaria’s previous monthly dividend of $0.04. The ex-dividend date of this dividend is Monday, September 30th. Savaria’s dividend payout ratio (DPR) is presently 80.00%.

Insider Activity

In related news, Senior Officer Sylvain Aubry sold 20,002 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$20.75, for a total transaction of C$415,041.50. Company insiders own 20.30% of the company’s stock.

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.