AutoCanada (TSE:ACQ) Price Target Cut to C$21.00

AutoCanada (TSE:ACQ) had its price target trimmed by BMO Capital Markets from C$23.00 to C$21.00 in a research note published on Monday morning, BayStreet.CA reports.

Several other research firms also recently issued reports on ACQ. Acumen Capital downgraded AutoCanada from a speculative buy rating to a hold rating and dropped their target price for the stock from C$24.50 to C$21.50 in a research report on Friday, May 3rd. ATB Capital downgraded shares of 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 report on Friday, May 3rd. Scotiabank boosted their price objective 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 downgraded shares of AutoCanada from a neutral rating to an underperform rating and cut their price target for the company from C$25.00 to C$18.00 in a report on Friday, May 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of AutoCanada from C$22.00 to C$21.00 and set a sector perform rating on the stock in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of C$23.00.

AutoCanada Stock Performance

Shares of ACQ opened at C$21.00 on Monday. AutoCanada has a 52 week low of C$15.14 and a 52 week high of C$27.54. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. The stock has a 50 day moving average price of C$24.00 and a two-hundred day moving average price of C$22.35. The firm has a market capitalization of C$495.81 million, a P/E ratio of 10.19, a P/E/G ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last released its earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, topping 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 return on equity of 10.23% and a net margin of 0.78%. Equities analysts forecast that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoCanada

In related news, insider EdgePoint Investment Group Inc. acquired 4,700 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were acquired at an average cost of C$23.75 per share, for a total transaction of C$111,604.79. In the last ninety days, insiders have purchased 34,650 shares of company stock worth $885,855. 4.70% of the stock is currently owned by 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.