ATB Capital cut shares of AutoCanada (TSE:ACQ – Free Report) from an outperform rating to a sector perform rating in a research report report published on Friday morning, BayStreet.CA reports. The firm currently has C$25.00 price objective on the stock, down from their prior price objective of C$62.00.
ACQ has been the subject of several other reports. BMO Capital Markets cut their price target on shares of AutoCanada from C$24.00 to C$23.00 and set a market perform rating for the company in a research report on Friday, March 8th. 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 research note on Friday. National Bankshares cut their price target on shares of AutoCanada from C$24.50 to C$22.00 and set a sector perform rating on the stock in a report on Friday, March 8th. Scotiabank increased 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. Finally, Cormark set a C$35.00 price target on AutoCanada in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, AutoCanada currently has an average rating of Hold and a consensus target price of C$23.00.
Get Our Latest Stock Analysis on ACQ
AutoCanada Stock Up 3.5 %
AutoCanada (TSE:ACQ – Get Free Report) last released its earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.56 by C$0.13. The company had revenue of C$1.48 billion during the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. Sell-side analysts expect that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.
Insider Activity
In related news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was acquired at an average price of C$26.64 per share, with a total value of C$564,865.52. Insiders purchased 34,650 shares of company stock valued at $885,855 over the last three months. Insiders own 4.70% of the company’s stock.
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.
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