CIBC Cuts AutoCanada (TSE:ACQ) Price Target to C$22.50

AutoCanada (TSE:ACQ) had its price objective lowered by research analysts at CIBC from C$26.00 to C$22.50 in a research note issued on Friday, BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price target would suggest a potential upside of 9.76% from the stock’s previous close.

ACQ has been the subject of a number of other reports. Cormark cut their price objective on AutoCanada from C$35.00 to C$29.75 in a report on Friday. BMO Capital Markets cut their price objective on AutoCanada from C$26.00 to C$24.00 and set a “market perform” rating for the company in a report on Friday. Royal Bank of Canada upped their price objective on AutoCanada from C$19.00 to C$22.00 and gave the stock a “sector perform” rating in a report on Friday, August 11th. Finally, ATB Capital cut their price objective on AutoCanada from C$70.00 to C$62.00 in a report on Friday.

AutoCanada Price Performance

AutoCanada stock opened at C$20.50 on Friday. AutoCanada has a 52 week low of C$15.14 and a 52 week high of C$30.80. The business has a 50-day simple moving average of C$24.84 and a 200 day simple moving average of C$21.88. The company has a quick ratio of 0.25, a current ratio of 0.98 and a debt-to-equity ratio of 377.60. The stock has a market cap of C$484.01 million, a price-to-earnings ratio of 5.57, a PEG ratio of 0.30 and a beta of 2.66.

AutoCanada (TSE:ACQ) last posted its earnings results on Thursday, August 10th. The company reported C$1.75 EPS for the quarter, topping the consensus estimate of C$0.97 by C$0.78. AutoCanada had a return on equity of 21.25% and a net margin of 1.52%. The business had revenue of C$1.76 billion during the quarter, compared to analysts’ expectations of C$1.73 billion. On average, research analysts forecast that AutoCanada will post 3.1929825 earnings per share for the current fiscal year.

AutoCanada Company Profile

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, after-market products, and auction services.