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

AutoCanada (TSE:ACQGet Free Report) 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.

View Our Latest Stock Report on AutoCanada

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:ACQGet Free Report) 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

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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.

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