Shares of AutoCanada Inc. (TSE:ACQ – Get Rating) reached a new 52-week low during mid-day trading on Tuesday after Acumen Capital lowered their price target on the stock from C$40.00 to C$35.00. The company traded as low as C$20.65 and last traded at C$20.76, with a volume of 33940 shares traded. The stock had previously closed at C$21.45.
A number of other research firms have also recently issued reports on ACQ. BMO Capital Markets upped their price objective on shares of AutoCanada from C$25.00 to C$28.00 in a research report on Friday, November 11th. National Bankshares decreased their price target on shares of AutoCanada from C$27.00 to C$26.00 and set a “sector perform” rating for the company in a research report on Friday, March 3rd. Scotiabank decreased their price target on shares of AutoCanada from C$35.00 to C$34.00 in a research report on Friday, March 3rd. ATB Capital decreased their price target on shares of AutoCanada from C$90.00 to C$80.00 in a research report on Tuesday, January 31st. Finally, Cormark decreased their price target on shares of AutoCanada from C$43.50 to C$36.25 in a research report on Friday, March 3rd. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$37.58.
In other news, insider EdgePoint Investment Group Inc. acquired 12,700 shares of AutoCanada stock in a transaction dated Thursday, December 22nd. The shares were bought at an average cost of C$21.73 per share, with a total value of C$276,006.56. Following the purchase, the insider now owns 12,700 shares in the company, valued at approximately C$276,006.56. Insiders own 3.30% of the company’s stock.
AutoCanada Stock Performance
AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships. 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, extended service contracts, and vehicle protection and other after-market products.
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