AutoCanada (TSE:ACQ) Price Target Cut to C$18.00

AutoCanada (TSE:ACQ) had its price objective decreased by Canaccord Genuity Group from C$20.00 to C$18.00 in a report released on Friday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other equities research analysts have also weighed in on ACQ. National Bankshares reduced 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. Acumen Capital reduced their price target on AutoCanada from C$33.00 to C$24.50 and set a speculative buy rating on the stock in a report on Friday, March 8th. Scotiabank raised their price objective on shares of AutoCanada from C$26.00 to C$28.00 and gave the company an outperform rating in a report on Friday, March 8th. CIBC lifted their target price on shares of AutoCanada from C$22.00 to C$25.00 and gave the stock a neutral rating in a research report on Friday, April 19th. Finally, BMO Capital Markets decreased their price target on shares of AutoCanada from C$24.00 to C$23.00 and set a market perform rating for the company in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of C$23.00.

AutoCanada Stock Up 3.5 %

ACQ stock opened at C$21.05 on Friday. The firm has a 50-day moving average price of C$24.01 and a 200-day moving average price of C$22.38. AutoCanada has a 12 month low of C$15.14 and a 12 month high of C$27.54. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 396.08. The stock has a market capitalization of C$496.99 million, a P/E 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 data on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, beating 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 business had revenue of C$1.48 billion during the quarter, compared to the consensus estimate of C$1.43 billion. As a group, equities research analysts anticipate that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider EdgePoint Investment Group Inc. purchased 4,700 shares of the business’s stock in a transaction on Friday, April 12th. The shares were acquired at an average price of C$23.75 per share, with a total value of C$111,604.79. Insiders bought 34,650 shares of company stock valued at $885,855 over the last quarter. 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.