AutoCanada (TSE:ACQ) Price Target Cut to C$21.00

AutoCanada (TSE:ACQ) had its price objective lowered by research analysts at Royal Bank of Canada from C$22.00 to C$21.00 in a research report issued on Friday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 3.30% from the stock’s current price.

A number of other equities research analysts also recently commented on ACQ. Cormark set a C$35.00 price objective on AutoCanada in a research report on Tuesday, March 19th. ATB Capital lowered AutoCanada from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$62.00 to C$25.00 in a research report on Friday. Acumen Capital lowered AutoCanada from a “speculative buy” rating to a “hold” rating and decreased their price target for the company from C$24.50 to C$21.50 in a research report on Friday. National Bankshares cut their price objective on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, Scotiabank raised their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AutoCanada has an average rating of “Hold” and a consensus target price of C$22.95.

AutoCanada Price Performance

Shares of AutoCanada stock opened at C$20.33 on Friday. AutoCanada has a 52 week low of C$15.14 and a 52 week high of C$27.54. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 396.08. 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 company’s 50-day moving average price is C$24.01 and its two-hundred day moving average price is C$22.41.

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

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. acquired 1,200 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average cost of C$23.95 per share, with a total value of C$28,740.00. In the last ninety days, insiders acquired 34,650 shares of company stock worth $885,855. 4.70% of the stock is currently owned by company insiders.

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.