AutoCanada (TSE:ACQ) Price Target Cut to C$18.00 by Analysts at Canaccord Genuity Group

AutoCanada (TSE:ACQ) had its price target reduced by research analysts at Canaccord Genuity Group from C$20.00 to C$18.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price suggests a potential downside of 11.46% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Acumen Capital decreased their price target on shares of AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a report on Friday, March 8th. CIBC raised their target price on AutoCanada from C$22.00 to C$25.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. BMO Capital Markets dropped their price target on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a research note on Friday, March 8th. Scotiabank increased their price objective on AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Finally, Cormark set a C$35.00 target price on AutoCanada in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$22.95.

AutoCanada Trading Down 1.2 %

AutoCanada stock 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 has a market cap of C$479.99 million, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The stock has a 50-day moving average of C$24.01 and a two-hundred day moving average of C$22.41. AutoCanada has a one year low of C$15.14 and a one year high of C$27.54.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. On average, research analysts anticipate that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insider Activity

In related news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were purchased at an average cost of C$26.64 per share, with a total value of C$564,865.52. Insiders purchased a total of 34,650 shares of company stock valued at $885,855 in the last quarter. 4.70% of the stock is currently owned by company insiders.

AutoCanada Company Profile

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.