AutoCanada (TSE:ACQ) Given New C$18.00 Price Target at Canaccord Genuity Group

AutoCanada (TSE:ACQ) had its target price trimmed by Canaccord Genuity Group from C$20.00 to C$18.00 in a research report report published on Friday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

A number of other research firms also recently commented on ACQ. Scotiabank increased their price objective on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an outperform rating in a research note on Friday, March 8th. National Bankshares lowered their price objective on AutoCanada from C$24.50 to C$22.00 and set a sector perform rating on the stock in a research report on Friday, March 8th. CIBC boosted their price target on AutoCanada from C$22.00 to C$25.00 and gave the company a neutral rating in a research note on Friday, April 19th. Cormark set a C$35.00 price objective on AutoCanada in a research note on Tuesday, March 19th. Finally, Acumen Capital dropped their price objective on AutoCanada from C$33.00 to C$24.50 and set a speculative buy rating for the company in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of C$22.95.

AutoCanada Stock Down 1.2 %

ACQ stock opened at C$20.33 on Friday. The business has a 50-day moving average of C$24.01 and a 200-day moving average of C$22.44. AutoCanada has a fifty-two week low of C$15.14 and a fifty-two week high of C$27.54. The stock has a market capitalization of C$479.99 million, a P/E ratio of 9.87, a P/E/G ratio of 0.30 and a beta of 2.60. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25.

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

Insider Activity

In related news, insider EdgePoint Investment Group Inc. purchased 21,200 shares of the stock in a transaction dated Tuesday, March 19th. The stock was bought at an average cost of C$26.64 per share, for a total transaction of C$564,865.52. In the last three months, insiders have purchased 34,650 shares of company stock worth $885,855. Corporate insiders own 4.70% of the company’s stock.

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.