BMO Capital Markets Cuts AutoCanada (TSE:ACQ) Price Target to C$21.00

AutoCanada (TSE:ACQ) had its price objective decreased by BMO Capital Markets from C$23.00 to C$21.00 in a research note issued to investors on Monday, BayStreet.CA reports.

ACQ has been the topic of a number of other reports. Canaccord Genuity Group lowered their target price on shares of AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a report on Friday. National Bankshares lowered their price objective on shares of AutoCanada from C$24.00 to C$22.00 and set a sector perform rating on the stock in a research note on Friday. Royal Bank of Canada cut their target price on shares of AutoCanada from C$22.00 to C$21.00 and set a sector perform rating for the company in a research note on Friday. Scotiabank boosted their price target on AutoCanada from C$26.00 to C$28.00 and gave the stock an outperform rating in a research report on Friday, March 8th. Finally, Cormark set a C$35.00 price objective on AutoCanada in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of C$23.00.

AutoCanada Trading Up 3.5 %

Shares of TSE:ACQ opened at C$21.05 on Monday. The stock has a market capitalization of C$496.99 million, a PE ratio of 10.22, 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$22.38. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25. AutoCanada has a one year low of C$15.14 and a one year 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, topping the consensus estimate of C$0.56 by C$0.13. The business 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%. On average, equities analysts forecast that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insider Transactions at AutoCanada

In other news, insider EdgePoint Investment Group Inc. purchased 4,700 shares of AutoCanada stock in a transaction that occurred on Friday, April 12th. The stock was acquired at an average cost of C$23.75 per share, for a total transaction of C$111,604.79. Over the last quarter, insiders have bought 34,650 shares of company stock worth $885,855. Company 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.