In a new note to investors today, an analyst has provided a rating update for Alaris Royalty (AD). Analyst Daryl Swetlishoff from Raymond James remains neutral on the stock and has a C$19 price target.
According to TipRanks.com, Swetlishoff ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -15.5% and a 15.9% success rate. Swetlishoff covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Weatherford, and Norbord Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alaris Royalty with a C$21.50 average price target.
Based on Alaris Royalty’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$19.1 million. In comparison, last year the company had a net profit of C$11.41 million.
Alaris Royalty Corp. is a Canadian investment company, which engages in the provision of alternative financing to profitable and well-managed private businesses. It offers 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. It also offers an alternative to raise capital through leverage, private equity or public offerings for private companies. The company was founded by Stephen Walter King, Clayton H. Riddell and Stephen Reid in 2004 and is headquartered in Calgary, Canada.
The company’s shares closed on Wednesday at C$21.26.
