Alaris Royalty was Upgraded to a Buy Rating at GMP FirstEnergy

By Ryan Adsit

In a new note to investors on June 28, an analyst has provided a rating update for the Financial sector company, Alaris Royalty (TSX: AD). Anoop Prihar, an analyst with GMP FirstEnergy, has upgraded their rating on AD to Buy on June 28 , with a C$24 price target.

Prihar has an average return of 13.4% when recommending Alaris Royalty.

According to TipRanks.com, Prihar is ranked #725 out of 4600 analysts.

Currently, the analyst consensus on Alaris Royalty is Moderate Buy and the average price target is C$23.33, representing a 2.3% upside.

In a report issued on June 28, Scotiabank also maintained a Buy rating on the stock with a C$25 price target.

Based on Alaris Royalty’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$20.53 million and quarterly net profit of C$11.85 million. In comparison, last year the company earned revenue of C$45.66 million and had a net profit of C$20.84 million.

Alaris Royalty Corp. is a Canadian investment company, which provides alternative financing to profitable and well-managed private businesses. It offers long-term equity capital to companies to which traditional debt or private equity is not available or attractive, including privately-held companies whose owners want to retain long-term control of their business. The company also offers an alternative to raise capital through leverage, private equity or public offerings for private companies. It provides capital to private companies in a way that maximizes valuations and tax efficiency; and allows existing management to maintain control and common equity ownership. Alaris Royalty is designed for entrepreneurs who wish to raise capital for a partial exit, generational transfer, recapitalization, management buyout, as well as growth and who want to maintain control of their companies while not attracting the added risk that comes with high leverage levels. The company was founded on May 23, 2006 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at $22.81.