Alaris Royalty Corp. (TSE:AD) had its price target reduced by analysts at Scotiabank from C$27.00 to C$25.00 in a report released on Wednesday, May 10th. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 25.69% from the company’s previous close.
A number of other analysts also recently issued reports on the company. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a C$23.00 price objective on shares of Alaris Royalty Corp. in a research note on Thursday, March 23rd. Acumen Capital set a C$26.50 price objective on Alaris Royalty Corp. in a research note on Thursday, January 12th. Royal Bank of Canada downgraded Alaris Royalty Corp. from an “outperform” rating to a “sector perform” rating and set a C$24.00 price objective on the stock. in a research note on Friday, January 13th. CIBC downgraded Alaris Royalty Corp. from an “outperform” rating to a “neutral” rating in a research report on Friday, January 13th. Finally, Desjardins cut their target price on Alaris Royalty Corp. from C$27.00 to C$26.50 in a research report on Thursday, March 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of C$24.07.
Shares of Alaris Royalty Corp. (TSE:AD) opened at 19.89 on Wednesday. Alaris Royalty Corp. has a 1-year low of $17.80 and a 1-year high of $31.20. The stock has a 50 day moving average of $21.33 and a 200-day moving average of $22.18. The firm has a market capitalization of $724.87 million and a P/E ratio of 12.75.
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In other news, insider Darren John Driscoll bought 1,800 shares of the stock in a transaction on Thursday, May 25th. The stock was acquired at an average cost of C$20.20 per share, for a total transaction of C$36,360.00.
About Alaris Royalty Corp.
Alaris Royalty Corp. is a Canada-based company providing capital to private businesses (individually, a Private Company Partner and collectively the Partners). The Company’s operations consist of investments in private operating entities in the form of preferred limited partnership interests, preferred interest in limited liability corporations in the United States, or long-term license and royalty arrangements.
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