Brokerages Set AutoCanada Inc. (TSE:ACQ) Price Target at C$23.00

Shares of AutoCanada Inc. (TSE:ACQ) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$23.00.

Several research analysts recently commented on the company. National Bankshares reduced their target price on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a research report on Friday, May 3rd. Canaccord Genuity Group decreased their target price on shares of AutoCanada from C$20.00 to C$18.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. CIBC lowered shares of AutoCanada from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from C$25.00 to C$18.00 in a research report on Friday, May 3rd. Royal Bank of Canada decreased their price objective on AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a report on Friday, May 3rd. Finally, ATB Capital cut AutoCanada from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$62.00 to C$25.00 in a report on Friday, May 3rd.

AutoCanada Stock Down 1.5 %

Shares of ACQ opened at C$19.57 on Friday. The company has a debt-to-equity ratio of 408.35, a quick ratio of 0.25 and a current ratio of 1.05. The company has a 50-day simple moving average of C$19.92 and a 200-day simple moving average of C$21.91. AutoCanada has a 52 week low of C$17.76 and a 52 week high of C$27.54. The firm has a market capitalization of C$459.31 million, a P/E ratio of 11.93, a P/E/G ratio of 0.30 and a beta of 2.65.

AutoCanada (TSE:ACQ) last posted its quarterly earnings results on Thursday, May 2nd. The company reported C$0.21 EPS for the quarter, missing the consensus estimate of C$0.40 by C($0.19). AutoCanada had a net margin of 0.64% and a return on equity of 8.15%. The firm had revenue of C$1.42 billion during the quarter, compared to analyst estimates of C$1.49 billion. On average, equities research analysts expect that AutoCanada will post 1.7074165 earnings per share for the current year.

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.