AutoCanada (TSE:ACQ) Stock Rating Lowered by CIBC

AutoCanada (TSE:ACQ) was downgraded by analysts at CIBC from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday, BayStreet.CA reports. They presently have a C$18.00 price objective on the stock, down from their previous price objective of C$25.00. CIBC’s target price points to a potential downside of 11.46% from the company’s current price.

Several other brokerages have also commented on ACQ. BMO Capital Markets decreased 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. National Bankshares decreased their target price on shares of AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating on the stock in a research report on Friday, March 8th. Acumen Capital lowered shares of AutoCanada from a “speculative buy” rating to a “hold” rating and lowered their target price for the stock from C$24.50 to C$21.50 in a research note on Friday. Scotiabank boosted their price target 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. Finally, Cormark set a C$35.00 price objective on shares of AutoCanada in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$22.95.

AutoCanada Stock Performance

TSE:ACQ opened at C$20.33 on Friday. The company’s 50-day moving average is C$24.01 and its two-hundred day moving average is C$22.41. AutoCanada has a 1-year low of C$15.14 and a 1-year high of C$27.54. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25. The firm has a market capitalization of C$479.99 million, a price-to-earnings ratio of 9.87, a PEG ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last released its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 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 analyst estimates of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. Analysts forecast that AutoCanada will post 3.0424469 EPS for the current year.

Insider Transactions at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 21,200 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was acquired at an average price of C$26.64 per share, for a total transaction of C$564,865.52. Over the last quarter, insiders have acquired 34,650 shares of company stock valued at $885,855. 4.70% of the stock is currently owned by corporate 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.