AutoCanada (TSE:ACQ) PT Lowered to C$25.50

AutoCanada (TSE:ACQ) had its target price cut by investment analysts at Scotiabank from C$28.00 to C$25.50 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 21.72% from the company’s previous close.

Several other research analysts also recently commented on ACQ. Cormark set a C$35.00 price objective on AutoCanada in a research note on Tuesday, March 19th. Royal Bank of Canada reduced their price objective 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. Acumen Capital cut shares of AutoCanada from a “speculative buy” rating to a “hold” rating and lowered their target price for the company from C$24.50 to C$21.50 in a research note on Friday. BMO Capital Markets dropped their target price on shares of AutoCanada from C$23.00 to C$21.00 in a report on Monday. Finally, Canaccord Genuity Group decreased their price target on AutoCanada from C$20.00 to C$18.00 and set a “hold” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$23.00.

AutoCanada Stock Performance

ACQ stock traded up C$0.62 during midday trading on Monday, reaching C$20.95. 28,302 shares of the company’s stock traded hands, compared to its average volume of 40,204. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 396.08. AutoCanada has a 52-week low of C$15.14 and a 52-week high of C$27.54. The stock has a market cap of C$494.63 million, a P/E ratio of 10.17, a PEG ratio of 0.30 and a beta of 2.60. The stock’s 50-day moving average is C$24.01 and its 200 day moving average is C$22.40.

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

Insider Activity

In other news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were bought at an average cost of C$26.64 per share, for a total transaction of C$564,865.52. Insiders bought a total of 34,650 shares of company stock worth $885,855 over the last 90 days. Corporate 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.