Desjardins Forecasts Strong Price Appreciation for Diversified Royalty (TSE:DIV) Stock

Diversified Royalty (TSE:DIV) had its price objective raised by research analysts at Desjardins from C$4.75 to C$5.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 7.99% from the company’s previous close.

DIV has been the subject of a number of other research reports. ATB Cormark Capital Markets boosted their price target on Diversified Royalty from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Raymond James Financial lifted their target price on Diversified Royalty from C$4.25 to C$4.70 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group boosted their target price on Diversified Royalty from C$4.75 to C$5.50 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Diversified Royalty has an average rating of “Buy” and a consensus price target of C$5.29.

Diversified Royalty Price Performance

DIV traded down C$0.06 on Tuesday, hitting C$4.63. 477,757 shares of the stock were exchanged, compared to its average volume of 413,893. Diversified Royalty has a 12 month low of C$3.20 and a 12 month high of C$4.98. The business has a 50-day moving average of C$4.63 and a two-hundred day moving average of C$4.24. The company has a debt-to-equity ratio of 103.05, a current ratio of 2.84 and a quick ratio of 1.74. The firm has a market capitalization of C$808.90 million, a price-to-earnings ratio of 23.15 and a beta of 1.11.

Diversified Royalty (TSE:DIV) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.04 earnings per share for the quarter. The company had revenue of C$18.80 million during the quarter. Diversified Royalty had a net margin of 49.91% and a return on equity of 12.54%. Sell-side analysts forecast that Diversified Royalty will post 0.2 EPS for the current fiscal year.

Insider Transactions at Diversified Royalty

In other Diversified Royalty news, insider Greg Gutmanis sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of C$4.85, for a total value of C$145,500.00. Following the completion of the transaction, the insider directly owned 204,185 shares in the company, valued at approximately C$990,297.25. This represents a 12.81% decrease in their position. Also, Director Johnny Ciampi sold 147,004 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of C$4.77, for a total value of C$701,209.08. Following the completion of the sale, the director owned 12,767 shares of the company’s stock, valued at C$60,898.59. The trade was a 92.01% decrease in their ownership of the stock. Insiders have sold 330,000 shares of company stock worth $1,576,500 over the last three months. Insiders own 0.52% of the company’s stock.

Diversified Royalty Company Profile

Diversified Royalty Corp is a multi-royalty company. It is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. As a part of the investment strategy, the firm always purchases trademarks of the companies it is going to acquire. The company gives its partners the benefit of full operational control of their business, participation in the growth of their company, and tax deductibility on royal payments. All of the company’s operating revenues are earned from the receipt of royalties and management fees from its Royalty Partners.