ATB Capital downgraded shares of AutoCanada (TSE:ACQ – Free Report) from an outperform rating to a sector perform rating in a research note issued to investors on Friday morning, BayStreet.CA reports. They currently have C$25.00 target price on the stock, down from their prior target price of C$62.00.
Other research analysts also recently issued reports about the company. Scotiabank raised their price objective 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. Cormark set a C$35.00 price target on shares of AutoCanada in a research report on Tuesday, March 19th. National Bankshares decreased their price objective on shares of 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. Canaccord Genuity Group lowered their target price on shares of AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a research note on Friday. Finally, BMO Capital Markets cut their target price 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of C$23.50.
Check Out Our Latest Report on AutoCanada
AutoCanada Stock Down 1.2 %
AutoCanada (TSE:ACQ – Get Free Report) last posted its earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, topping 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 firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. Sell-side analysts forecast that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.
Insider Activity at AutoCanada
In related news, insider EdgePoint Investment Group Inc. acquired 21,200 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average price of C$26.64 per share, with a total value of C$564,865.52. Insiders purchased a total of 34,650 shares of company stock worth $885,855 in the last ninety days. 4.70% of the stock is currently owned by 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.
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