November 28, 2016 - By Nellie Frank
In a a note issued to clients on Monday morning, stock analysts at CIBC World Markets initiated coverage on shares of Alaris Royalty Corp (TSE:AD). The firm set a “Outperform” rating with $24.00, giving 12.83% to target.
Out of 6 analysts covering Alaris Royalty Corp (TSE:AD), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $38 is the highest target while $24 is the lowest. The $31.79 average target is 47.79% above today’s ($21.51) stock price. Alaris Royalty Corp has been the topic of 15 analyst reports since August 10, 2015 according to StockzIntelligence Inc. As per Wednesday, June 29, the company rating was maintained by RBC Capital Markets. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, November 10. The stock has “Sector Perform” rating given by RBC Capital Markets on Wednesday, October 12. Canaccord Genuity maintained the shares of AD in a report on Monday, August 10 with “Buy” rating. The rating was maintained by RBC Capital Markets on Wednesday, July 20 with “Sector Perform”. The firm has “Hold” rating by GMP Securities given on Thursday, May 12. The company was maintained on Wednesday, July 20 by Scotia Capital.
About 160,070 shares traded hands or 6.87% up from the average. Alaris Royalty Corp. (TSE:AD) has declined 31.89% since April 22, 2016 and is downtrending. It has underperformed by 37.90% the S&P500.
Alaris Royalty Corp. is a Canada-based firm providing capital to private businesses . The company has a market cap of $795.19 million. The Company’s activities consist of investments in private operating entities in the form of preferred limited partnership interests, preferred interest in limited liability firms in the United States, or long-term license and royalty arrangements. It has a 12.01 P/E ratio. The Firm is an equity well-known provider to service a niche in the capital market, such as steady growth companies with an entrepreneurial management team, incentivized to grow and maintain control of their business.
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By Nellie Frank