Royal Bank of Canada Lowers AutoCanada (TSE:ACQ) Price Target to C$18.00

AutoCanada (TSE:ACQFree Report) had its price objective decreased by Royal Bank of Canada from C$21.00 to C$18.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other equities analysts also recently issued research reports about the company. Scotiabank reduced their price objective on AutoCanada from C$28.00 to C$25.50 and set an outperform rating on the stock in a research report on Monday, May 6th. BMO Capital Markets reduced their target price on AutoCanada from C$23.00 to C$21.00 in a research report on Monday, May 6th. Atb Cap Markets downgraded AutoCanada from an outperform rating to a sector perform rating in a research report on Friday, May 3rd. Cormark reduced their target price on AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday. Finally, CIBC downgraded AutoCanada from a neutral rating to an underperform rating and reduced their target price for the company from C$25.00 to C$18.00 in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, AutoCanada presently has an average rating of Hold and an average target price of C$19.11.

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AutoCanada Stock Performance

Shares of AutoCanada stock opened at C$14.65 on Wednesday. AutoCanada has a one year low of C$14.20 and a one year high of C$27.54. The company has a market cap of C$343.84 million, a price-to-earnings ratio of 8.93, a PEG ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 408.35, a quick ratio of 0.25 and a current ratio of 1.05. The business’s 50 day moving average price is C$18.97 and its 200 day moving average price is C$21.36.

Insider Buying and Selling

In related news, Director Christopher Harris bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of C$14.48 per share, with a total value of C$72,400.00. Insiders purchased 8,000 shares of company stock valued at $131,300 in the last three months. 4.79% of the stock is owned by corporate insiders.

AutoCanada Company Profile

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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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Analyst Recommendations for AutoCanada (TSE:ACQ)

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