AutoCanada (TSE:ACQ) Downgraded by ATB Capital

AutoCanada (TSE:ACQ) was downgraded by analysts at ATB Capital from an “outperform” rating to a “sector perform” rating in a research report issued on Friday, BayStreet.CA reports. They currently have a C$25.00 price target on the stock, down from their previous price target of C$62.00. ATB Capital’s price objective suggests a potential upside of 22.97% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets dropped their target price on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a research report on Friday, March 8th. Acumen Capital downgraded shares of AutoCanada from a “speculative buy” rating to a “hold” rating and dropped their price objective for the stock from C$24.50 to C$21.50 in a report on Friday. Scotiabank increased their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. CIBC downgraded AutoCanada from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from C$25.00 to C$18.00 in a research report on Friday. Finally, Canaccord Genuity Group cut their price target on AutoCanada from C$20.00 to C$18.00 and set a “hold” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$22.95.

AutoCanada Trading Down 1.2 %

Shares of TSE:ACQ opened at C$20.33 on Friday. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. The stock’s 50-day moving average is C$24.01 and its 200-day moving average is C$22.41. The company has a market cap of C$479.99 million, a P/E ratio of 9.87, a P/E/G ratio of 0.30 and a beta of 2.60. AutoCanada has a 52-week low of C$15.14 and a 52-week high of C$27.54.

AutoCanada (TSE:ACQ) last released its earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. Equities research analysts predict that AutoCanada will post 3.0424469 earnings per share for the current year.

Insider Buying and Selling

In related news, insider EdgePoint Investment Group Inc. acquired 1,200 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were bought at an average cost of C$23.95 per share, with a total value of C$28,740.00. Insiders acquired 34,650 shares of company stock valued at $885,855 over the last quarter. Corporate insiders own 4.70% of the company’s stock.

About AutoCanada

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.