AutoCanada (TSE:ACQ) Price Target Cut to C$22.00 by Analysts at ATB Cormark Capital Markets

AutoCanada (TSE:ACQ) had its price target decreased by equities research analysts at ATB Cormark Capital Markets from C$25.00 to C$22.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ price objective suggests a potential upside of 29.41% from the company’s current price.

Several other analysts also recently weighed in on ACQ. Acumen Capital boosted their price target on AutoCanada from C$35.50 to C$39.25 and gave the company a “speculative buy” rating in a research note on Tuesday, January 27th. Canadian Imperial Bank of Commerce raised their price objective on AutoCanada from C$30.00 to C$34.00 in a research note on Thursday, February 5th. Royal Bank Of Canada decreased their target price on AutoCanada from C$28.00 to C$18.00 in a report on Thursday. Canaccord Genuity Group upped their target price on AutoCanada from C$36.00 to C$42.00 and gave the company a “buy” rating in a research report on Monday, January 19th. Finally, National Bank Financial cut their price target on shares of AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, AutoCanada currently has a consensus rating of “Hold” and an average target price of C$28.46.

AutoCanada Stock Performance

Shares of TSE ACQ traded down C$3.01 during midday trading on Thursday, reaching C$17.00. The company had a trading volume of 336,948 shares, compared to its average volume of 64,532. AutoCanada has a 1 year low of C$14.00 and a 1 year high of C$35.48. The business’s 50-day simple moving average is C$25.77 and its 200 day simple moving average is C$26.26. The company has a current ratio of 1.09, a quick ratio of 0.25 and a debt-to-equity ratio of 376.45. The stock has a market cap of C$392.68 million, a P/E ratio of -42.50, a P/E/G ratio of 0.30 and a beta of 1.76.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Wednesday, March 18th. The company reported C($0.06) earnings per share for the quarter. AutoCanada had a negative net margin of 0.18% and a negative return on equity of 1.67%. The company had revenue of C$1.12 billion for the quarter. On average, analysts forecast that AutoCanada will post 2.4311927 earnings per share for the current fiscal year.

About AutoCanada

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.