GMP FirstEnergy Believes Savaria (TSX: SIS) Won’t Stop Here

By Carrie Williams

In a new note to investors yesterday, an analyst has provided a rating update for the Consumer Goods sector company, Savaria (TSX: SIS). Analyst Stephen Harris from GMP FirstEnergy reiterated a Buy rating, with a C$18.25 price target.

Harris has an average return of 33.0% when recommending Savaria.

According to TipRanks.com, Harris is ranked #573 out of 4555 analysts.

Savaria has an analyst consensus of Moderate Buy, with a price target consensus of C$18.25.

Based on Savaria’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$31.13 million and quarterly net profit of C$3.34 million. In comparison, last year the company earned revenue of C$26.22 million and had a net profit of C$2.38 million.

Savaria Corp. designs and manufactures elevators, lifts and wheelchair accessible vans for home and commercial use, as well as stair lifts and vertical and inclined platform lifts. Its products include home elevators, wheelchair lifts, commercial elevators, ceiling lift, stair lifts, van conversions, and other products. The company was founded in 1979 and is headquartered in Laval, Canada.

The company’s shares closed last Friday at $16.07, close to its 52-week high of $16.11.