Savaria (TSE:SIS) Downgraded to “Market Perform” Rating by Cormark

Cormark cut shares of Savaria (TSE:SIS) from a buy rating to a market perform rating in a research note published on Monday morning,BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the stock. Scotiabank set a C$25.00 price objective on shares of Savaria and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Stifel Nicolaus lifted their price target on Savaria from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. TD Securities raised their target price on Savaria from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. National Bankshares upped their price target on Savaria from C$22.00 to C$27.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Raymond James raised their price objective on shares of Savaria from C$25.00 to C$27.50 and gave the stock an “outperform” rating in a report on Friday, September 13th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$25.50.

Savaria Stock Down 4.4 %

SIS stock opened at C$21.89 on Monday. Savaria has a fifty-two week low of C$13.95 and a fifty-two week high of C$23.92. The company’s 50 day moving average price is C$21.86 and its 200 day moving average price is C$19.49. The company has a debt-to-equity ratio of 56.50, a quick ratio of 0.91 and a current ratio of 1.94. The firm has a market capitalization of C$1.56 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 42.72 and a beta of 0.90.

Savaria Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be paid a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Thursday, October 31st. Savaria’s dividend payout ratio is currently 83.08%.

Insider Buying and Selling at Savaria

In other news, Senior Officer Sylvain Aubry sold 20,002 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$20.75, for a total transaction of C$415,041.50. In other news, Senior Officer Sylvain Aubry sold 20,002 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$20.75, for a total transaction of C$415,041.50. Also, Director Sylvain Dumoulin sold 5,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of C$22.00, for a total value of C$110,000.00. Over the last three months, insiders have sold 50,002 shares of company stock worth $1,046,042. 17.45% of the stock is owned by company 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.