Royal Bank Of Canada Lowers AutoCanada (TSE:ACQ) Price Target to C$23.00

AutoCanada (TSE:ACQ) had its price target cut by research analysts at Royal Bank Of Canada from C$27.00 to C$23.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential downside of 25.78% from the stock’s previous close.

ACQ has been the topic of a number of other reports. Canaccord Genuity Group boosted their price target on shares of AutoCanada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Acumen Capital raised their price objective on shares of AutoCanada from C$30.50 to C$39.00 and gave the company a “speculative buy” rating in a research note on Thursday. BMO Capital Markets upgraded AutoCanada from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$20.00 to C$40.00 in a research report on Thursday. National Bankshares increased their price target on AutoCanada from C$28.00 to C$36.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, ATB Capital boosted their price objective on AutoCanada from C$25.00 to C$32.00 and gave the stock a “sector perform” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$32.21.

AutoCanada Stock Performance

ACQ stock opened at C$30.99 on Friday. The stock’s 50 day simple moving average is C$24.97 and its 200 day simple moving average is C$20.23. AutoCanada has a 12-month low of C$13.75 and a 12-month high of C$33.87. The firm has a market cap of C$721.19 million, a P/E ratio of -14.30, a P/E/G ratio of 0.30 and a beta of 2.54. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54.

Insider Activity

In related news, insider EdgePoint Investment Group Inc. purchased 4,880 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was purchased at an average cost of C$19.78 per share, for a total transaction of C$96,548.36. Insiders bought 7,440 shares of company stock worth $151,743 in the last ninety days. 4.90% of the stock is currently owned by company insiders.

AutoCanada Company Profile

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru.