Acumen Capital downgraded shares of AutoCanada (TSE:ACQ – Free Report) from a speculative buy rating to a hold rating in a research report report published on Friday morning, BayStreet.CA reports. The brokerage currently has C$21.50 price objective on the stock, down from their previous price objective of C$24.50.
Several other brokerages have also recently issued reports on ACQ. Scotiabank upped their price objective on shares of AutoCanada from C$26.00 to C$28.00 and gave the company an outperform rating in a research note on Friday, March 8th. CIBC increased their price target on AutoCanada from C$22.00 to C$25.00 and gave the company a neutral rating in a report on Friday, April 19th. National Bankshares reduced their price objective on AutoCanada from C$24.50 to C$22.00 and set a sector perform rating on the stock in a research report on Friday, March 8th. Cormark set a C$35.00 target price on AutoCanada in a report on Tuesday, March 19th. Finally, Canaccord Genuity Group reduced their price target on AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of C$23.50.
View Our Latest Report on AutoCanada
AutoCanada Stock Performance
AutoCanada (TSE:ACQ – Get Free Report) last announced its earnings results 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. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. The company had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. As a group, equities research analysts expect that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.
Insider Activity
In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of C$23.92 per share, with a total value of C$89,694.38. Insiders have acquired a total of 34,650 shares of company stock valued at $885,855 in the last quarter. Insiders own 4.70% of the company’s stock.
AutoCanada Company Profile
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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