AutoCanada (TSE:ACQ) Rating Lowered to Sector Perform at Atb Cap Markets

Atb Cap Markets downgraded shares of AutoCanada (TSE:ACQ) from an outperform rating to a sector perform rating in a research note issued to investors on Friday, Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group dropped their price target on AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a research note on Friday. Cormark set a C$35.00 price target on shares of AutoCanada in a research note on Tuesday, March 19th. Scotiabank lowered their price objective on shares of AutoCanada from C$28.00 to C$25.50 and set an outperform rating for the company in a research note on Monday. Royal Bank of Canada cut their target price on AutoCanada from C$22.00 to C$21.00 and set a sector perform rating on the stock in a research report on Friday. Finally, ATB Capital cut AutoCanada from an outperform rating to a sector perform rating and lowered their price target for the stock from C$62.00 to C$25.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of C$23.00.

AutoCanada Trading Up 3.5 %

TSE ACQ opened at C$21.05 on Friday. AutoCanada has a 52 week low of C$15.14 and a 52 week high of C$27.54. The company has a 50 day moving average price of C$24.01 and a 200 day moving average price of C$22.38. 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 has a market cap of C$496.99 million, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) 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 for the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. As a group, sell-side analysts forecast that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. purchased 21,200 shares of AutoCanada stock in a transaction that occurred on 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 valued at $885,855. Company insiders own 4.70% of the company’s stock.

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.