ATB Capital lowered shares of AutoCanada (TSE:ACQ – Free Report) from an outperform rating to a sector perform rating in a research note published on Friday, BayStreet.CA reports. ATB Capital currently has C$25.00 price target on the stock, down from their previous price target of C$62.00.
Other analysts have also issued research reports about the stock. Scotiabank boosted their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the company an outperform rating in a research note on Friday, March 8th. CIBC lowered AutoCanada from a neutral rating to an underperform rating and lowered their target price for the company from C$25.00 to C$18.00 in a report on Friday. Canaccord Genuity Group cut their target price on AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a research note on Friday. National Bankshares lowered their price target on shares of AutoCanada from C$24.50 to C$22.00 and set a sector perform rating for the company in a research report on Friday, March 8th. Finally, Cormark set a C$35.00 price target on shares of AutoCanada in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of C$22.95.
View Our Latest Research Report on AutoCanada
AutoCanada Price Performance
AutoCanada (TSE:ACQ – Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.56 by C$0.13. The business had revenue of C$1.48 billion during the quarter, compared to analyst estimates of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. Equities research analysts anticipate that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.
Insider Activity
In other news, insider EdgePoint Investment Group Inc. bought 1,200 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average cost of C$23.95 per share, with a total value of C$28,740.00. Insiders bought a total of 34,650 shares of company stock worth $885,855 over the last 90 days. 4.70% of the stock is currently owned by company insiders.
About AutoCanada
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.
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