AutoCanada (TSE:ACQ – Get Free Report) had its price target cut by equities researchers at Canaccord Genuity Group from C$20.00 to C$18.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential downside of 11.46% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a research report on Friday, March 8th. Cormark set a C$35.00 price target on shares of AutoCanada in a report on Tuesday, March 19th. CIBC raised their price target on shares of AutoCanada from C$22.00 to C$25.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Scotiabank increased their target price on AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. Finally, National Bankshares reduced their target price on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating for the company in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$22.95.
Check Out Our Latest Research Report on ACQ
AutoCanada Price Performance
AutoCanada (TSE:ACQ – Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.56 by C$0.13. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. The company had revenue of C$1.48 billion during the quarter, compared to analyst estimates of C$1.43 billion. Equities research analysts forecast that AutoCanada will post 3.0424469 EPS for the current fiscal year.
Insider Transactions at AutoCanada
In other news, insider EdgePoint Investment Group Inc. purchased 1,200 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was acquired at an average cost of C$23.95 per share, for a total transaction of C$28,740.00. Insiders have bought a total of 34,650 shares of company stock worth $885,855 in the last ninety days. Insiders own 4.70% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than AutoCanada
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- MarketBeat Week in Review – 4/29 – 5/3
- High Flyers: 3 Natural Gas Stocks for March 2022
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- Consumer Staples Stocks, Explained
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for AutoCanada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoCanada and related companies with MarketBeat.com's FREE daily email newsletter.