Savaria (TSX:SIS) is a Laval-based company that provides accessibility solutions for the elderly and
physically challenged people in Canada and around the world. Shares of this TSX stock have plunged
28% in 2022 as of close on July 27. The stock is now down 35% in the year-over-year period.
Investors should be eager to get in on the accessibility and personal mobility market going forward.
Canada and the rest of the developed world is facing a rapidly aging population, which will increase
demand for high-quality personal mobility products. Market researcher Grand View Research recently
estimated that the global personal mobility market was worth $14.9 billion in 2021. It expects this
market to deliver CAGR of 6.3% from 2022 through to 2030.
This company is set to release its second quarter 2022 results in the first half of August. In Q1 2022,
Savaria delivered revenue growth of 63% to $183 million. It was bolstered in large part by its acquisition
of Handicare in March 2021. The company’s gross profit jumped 56% to $58.5 million and adjusted
EBITDA climbed 41% to $24.4 million.
Shares of this stock are trading in favourable value territory compared to its industry peers. The
company is on track for strong earnings growth going forward. Savaria last paid out a monthly dividend
of $0.042 per share. That represents a solid 3.7% yield. I’m looking to snatch up this exciting Canadian
stock before we move into August.
