AutoCanada (TSE:ACQ) PT Lowered to C$21.00

AutoCanada (TSE:ACQ) had its price objective reduced by investment analysts at Royal Bank of Canada from C$22.00 to C$21.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 3.30% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Canaccord Genuity Group dropped their price target on AutoCanada from C$20.00 to C$18.00 and set a “hold” rating on the stock in a research report on Friday. National Bankshares dropped their target price on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a report on Friday. CIBC cut AutoCanada from a “neutral” rating to an “underperform” rating and cut their price target for the stock from C$25.00 to C$18.00 in a research note on Friday. BMO Capital Markets lowered 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. Finally, Acumen Capital downgraded shares of AutoCanada from a “speculative buy” rating to a “hold” rating and cut their price objective for the stock from C$24.50 to C$21.50 in a research report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, AutoCanada currently has a consensus rating of “Hold” and an average target price of C$22.95.

AutoCanada Trading Down 1.2 %

ACQ opened at C$20.33 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. AutoCanada has a 52 week low of C$15.14 and a 52 week high of C$27.54. The business’s 50 day moving average is C$24.01 and its two-hundred day moving average is C$22.41. The firm has a market cap of C$479.99 million, a price-to-earnings ratio of 9.87, 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 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.56 by C$0.13. The company had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. On average, research analysts predict that AutoCanada will post 3.0424469 EPS for the current year.

Insider Transactions at AutoCanada

In related news, insider EdgePoint Investment Group Inc. acquired 1,200 shares of AutoCanada stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average price of C$23.95 per share, for a total transaction of C$28,740.00. Insiders have purchased a total of 34,650 shares of company stock valued at $885,855 in the last ninety days. 4.70% of the stock is currently owned by company insiders.

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.