The stock of Savaria Corporation (TSE:SIS) gapped up by $0.02 today and has $18.85 target or 61.00% above today’s $11.71 share price. The 9 months technical chart setup indicates low risk for the $446.18 million company. The gap was reported on Nov, 17 by Barchart.com. If the $18.85 price target is reached, the company will be worth $272.17 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 53,427 shares traded hands. Savaria Corporation (TSE:SIS) has risen 71.62% since April 13, 2016 and is uptrending. It has outperformed by 66.99% the S&P500.
Savaria Corporation (TSE:SIS) Ratings Coverage
Out of 2 analysts covering Savaria Corp (TSE:SIS), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $10 is the highest target while $6 is the lowest. The $8 average target is -31.68% below today’s ($11.71) stock price. Savaria Corp has been the topic of 4 analyst reports since November 6, 2015 according to StockzIntelligence Inc. National Bank Canada maintained it with “Outperform” rating and $6.50 target price in Friday, November 6 report.
More important recent Savaria Corporation (TSE:SIS) news were published by: Marketwired.com which released: “Bourassa Family Announces Secondary Offering of Common Shares of Savaria …” on November 10, 2016, also Marketwired.com published article titled: “Savaria Corporation Added to S&P/TSX Small Cap Index”, Seekingalpha.com published: “Savaria Corporation – Riding Strong Macroeconomic Tailwinds” on January 25, 2016. More interesting news about Savaria Corporation (TSE:SIS) was released by: Marketwatch.com and their article: “Savaria President and CFO Exercise their Warrants” with publication date: November 09, 2016.
Savaria Corporation is a Canada-based company, which offers a range of stairlifts, platform lifts, and residential and commercial elevators. The company has a market cap of $446.18 million. The Firm operates through two divisions: Accessibility and Adapted Vehicles. It has a 35.23 P/E ratio. The Accessibility segment designs, makes, distributes and installs accessibility products, such as stairlifts for both straight and curved stairs, vertical and inclined platform lifts and elevators for home and commercial use.
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