AutoCanada (TSE:ACQ – Free Report) had its price target reduced by National Bankshares from C$24.00 to C$22.00 in a research report report published on Friday, BayStreet.CA reports. They currently have a sector perform rating on the stock.
Several other research analysts have also recently commented on the company. Canaccord Genuity Group lowered their target price on AutoCanada from C$20.00 to C$18.00 and set a hold rating for the company in a research note on Friday. ATB Capital lowered shares of AutoCanada from an outperform rating to a sector perform rating and cut their target price for the stock from C$62.00 to C$25.00 in a research note on Friday. Cormark set a C$35.00 price target on shares of AutoCanada in a research note on Tuesday, March 19th. Acumen Capital downgraded shares of AutoCanada from a speculative buy rating to a hold rating and dropped their price objective for the company from C$24.50 to C$21.50 in a research report on Friday. Finally, CIBC lowered shares of AutoCanada from a neutral rating to an underperform rating and reduced their price objective for the company from C$25.00 to C$18.00 in a report on Friday. 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 company’s stock. According to data from MarketBeat.com, AutoCanada currently has a consensus rating of Hold and an average target price of C$23.00.
Check Out Our Latest Stock Analysis on AutoCanada
AutoCanada Trading Up 3.5 %
AutoCanada (TSE:ACQ – Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The company had revenue of C$1.48 billion during the quarter, compared to analysts’ expectations of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. Equities research analysts anticipate that AutoCanada will post 3.0424469 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were purchased at an average cost of C$26.64 per share, with a total value of C$564,865.52. Over the last quarter, insiders have purchased 34,650 shares of company stock valued at $885,855. 4.70% of the stock is owned by corporate insiders.
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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