AutoCanada (TSE:ACQ) Cut to Hold at Canaccord Genuity Group

Canaccord Genuity Group cut shares of AutoCanada (TSE:ACQ) from a buy rating to a hold rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have C$22.00 price target on the stock, down from their prior price target of C$42.00.

Several other equities research analysts have also weighed in on the company. Canadian Imperial Bank of Commerce increased their target price on AutoCanada from C$30.00 to C$34.00 in a research report on Thursday, February 5th. ATB Cormark Capital Markets lowered their price target on shares of AutoCanada from C$25.00 to C$22.00 and set a “sector perform” rating for the company in a research report on Thursday. Acumen Capital increased their price objective on shares of AutoCanada from C$35.50 to C$39.25 and gave the stock a “speculative buy” rating in a report on Tuesday, January 27th. National Bank Financial cut their price objective on shares of AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Finally, Royal Bank Of Canada reduced their target price on shares of AutoCanada from C$28.00 to C$18.00 in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, AutoCanada presently has an average rating of “Hold” and an average target price of C$24.18.

AutoCanada Stock Up 0.9%

Shares of AutoCanada stock opened at C$17.15 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.25 and a debt-to-equity ratio of 409.72. The business’s 50 day simple moving average is C$25.46 and its 200-day simple moving average is C$26.04. The stock has a market capitalization of C$396.15 million, a price-to-earnings ratio of -42.88, a PEG ratio of 0.30 and a beta of 1.76. AutoCanada has a twelve month low of C$14.00 and a twelve month high of C$35.48.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results on Wednesday, March 18th. The company reported C($0.06) earnings per share (EPS) for the quarter. AutoCanada had a return on equity of 3.40% and a net margin of 0.33%.The company had revenue of C$1.12 billion during the quarter. Equities research analysts forecast that AutoCanada will post 2.4311927 earnings per share for the current year.

AutoCanada News Summary

Here are the key news stories impacting AutoCanada this week:

• Negative Sentiment: Q4 results missed expectations — AutoCanada reported C($0.06) EPS on C$1.12B revenue, posted a negative net margin (-0.18%) and negative ROE (-1.67%). Management commentary and the slide deck flagged market headwinds and an internal overhaul. Earnings Transcript
• Negative Sentiment: MarketWatch coverage highlights the share weakness tied to “market headwinds” and the company’s internal overhaul weighing on Q4 results — a narrative that likely pressured sentiment. MarketWatch Article
• Negative Sentiment: BMO Capital Markets cut its price target to C$24 (from C$36) — a sizable trim that signals reduced confidence in the recovery timeline. BayStreet.CA
• Negative Sentiment: Canadian Imperial Bank of Commerce downgraded ACQ from “outperform” to “neutral” and cut its target to C$20 (from C$34), lowering buy-side momentum. BayStreet.CA
• Negative Sentiment: ATB Cormark lowered its target to C$22 (from C$25) and set a “sector perform” rating, reflecting more cautious near-term expectations. BayStreet.CA
• Negative Sentiment: RBC trimmed its target to C$18 (from C$28), signaling limited upside and greater risk perception after Q4. BayStreet.CA
• Negative Sentiment: National Bank Financial downgraded ACQ to “hold” and cut its target to C$24 (from C$29), joining peers in reducing enthusiasm. BayStreet.CA
• Negative Sentiment: Canaccord Genuity moved ACQ from “buy” to “hold” and slashed its target to C$22 (from C$42), a steep reduction that removes a prior bullish driver. BayStreet.CA

AutoCanada Company Profile

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.