AutoCanada (TSE:ACQ) Price Target Raised to C$25.00

AutoCanada (TSE:ACQ) had its target price upped by stock analysts at CIBC from C$22.00 to C$25.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target would indicate a potential upside of 4.17% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Cormark set a C$35.00 price target on shares of AutoCanada in a report on Tuesday, March 19th. Acumen Capital decreased their target price on shares of AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating on the stock in a research report on Friday, March 8th. BMO Capital Markets decreased their target price on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a research report on Friday, March 8th. Canaccord Genuity Group decreased their target price on shares of AutoCanada from C$22.00 to C$20.00 and set a “hold” rating on the stock in a research report on Friday, March 8th. Finally, Scotiabank increased their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, AutoCanada presently has a consensus rating of “Hold” and a consensus target price of C$27.95.

AutoCanada Stock Performance

Shares of ACQ stock traded down C$0.31 on Friday, reaching C$24.00. The stock had a trading volume of 17,173 shares, compared to its average volume of 32,151. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. The firm’s 50-day moving average is C$23.54 and its two-hundred day moving average is C$22.51. The firm has a market capitalization of C$566.64 million, a price-to-earnings ratio of 11.67, a P/E/G ratio of 0.30 and a beta of 2.60. AutoCanada has a 12 month low of C$15.14 and a 12 month high of C$27.54.

AutoCanada (TSE:ACQ) last issued its earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.56 by C$0.13. The company had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. On average, research analysts expect that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insider Activity at AutoCanada

In related news, insider EdgePoint Investment Group Inc. purchased 21,200 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were purchased at an average price of C$26.64 per share, with a total value of C$564,865.52. In the last ninety days, insiders have acquired 29,650 shares of company stock worth $766,165. 4.70% of the stock is owned by corporate insiders.

AutoCanada Company Profile

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships and related business. The company offers a range of automotive products and services, including new and used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, and extended service contracts; and vehicle protection, after-market products, and auction services.