Alaris Royalty Corp. (AD) Given Consensus Rating of “Buy” by Brokerages
Alaris Royalty Corp. (TSE:AD) has been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$23.86.
A number of brokerages have recently weighed in on AD. CIBC dropped their target price on Alaris Royalty Corp. from C$24.00 to C$20.00 in a report on Thursday, May 11th. Raymond James Financial, Inc. dropped their target price on Alaris Royalty Corp. from C$23.00 to C$22.00 and set a “market perform” rating on the stock in a report on Wednesday, May 10th. Desjardins downgraded Alaris Royalty Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. National Bank Financial upped their target price on Alaris Royalty Corp. from C$24.00 to C$25.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, Scotiabank dropped their target price on Alaris Royalty Corp. from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a report on Wednesday, May 10th.
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Alaris Royalty Corp. (AD) traded down 8.42% during midday trading on Wednesday, hitting $20.67. 344,988 shares of the stock were exchanged. Alaris Royalty Corp. has a 12-month low of $17.80 and a 12-month high of $24.39. The stock has a market cap of $753.30 million and a price-to-earnings ratio of 12.45. The firm has a 50 day moving average of $21.93 and a 200-day moving average of $21.66.
The company also recently declared a monthly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a $0.135 dividend. The ex-dividend date was Thursday, July 27th. This represents a $1.62 annualized dividend and a dividend yield of 7.84%.
In other news, insider Gregg Delcourt purchased 3,000 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was acquired at an average price of C$22.75 per share, with a total value of C$68,250.00. Also, Director Mary C. Ritchie sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of C$20.18, for a total value of C$100,900.00.
About Alaris Royalty Corp.
Alaris Royalty Corp. is a Canada-based company providing capital to private businesses (individually, a Private Company Partner and collectively the Partners). The Company’s operations consist of investments in private operating entities in the form of preferred limited partnership interests, preferred interest in limited liability corporations in the United States, or long-term license and royalty arrangements.
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