Raymond James Increases Alaris Royalty (TSE:AD) Price Target to C$20.00

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Alaris Royalty (TSE:AD) had its target price lifted by Raymond James from C$18.00 to C$20.00 in a research note issued on Tuesday, September 18th. The brokerage currently has a “market perform” rating on the stock. Raymond James’ target price suggests a potential upside of 3.68% from the stock’s previous close.

Several other brokerages have also recently issued reports on AD. Desjardins lowered their price target on Alaris Royalty from C$20.50 to C$19.00 in a research report on Saturday, July 14th. National Bank Financial lifted their target price on Alaris Royalty from C$18.50 to C$22.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Finally, CIBC lifted their target price on Alaris Royalty from C$18.00 to C$19.00 in a report on Monday, September 17th.

Alaris Royalty stock traded up C$0.07 during mid-day trading on Tuesday, hitting C$19.29. 104,600 shares of the company’s stock traded hands, compared to its average volume of 167,156. Alaris Royalty has a one year low of C$15.30 and a one year high of C$21.24.

Alaris Royalty (TSE:AD) last issued its quarterly earnings results on Monday, July 23rd. The company reported C$0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.05). Alaris Royalty had a negative net margin of 42.91% and a negative return on equity of 14.19%. The firm had revenue of C$28.44 million for the quarter, compared to analyst estimates of C$33.80 million.

About Alaris Royalty

Alaris Royalty Corp. is a private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments. The firm does not invest in turnarounds and start-ups. It prefers to invest in the companies based in all industries except for those with a declining asset base, such as oil and gas resource companies, or any industry that carry the risk of obsolescence such as high tech and focuses on business services, professional services, information services, healthcare services, distribution & logistics, industrials, consumer products.

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