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

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

A number of other brokerages have also recently issued reports on ACQ. Cormark set a C$35.00 target price on AutoCanada in a research report on Tuesday, March 19th. ATB Capital downgraded AutoCanada from an outperform rating to a sector perform rating and decreased their price objective for the company from C$62.00 to C$25.00 in a report on Friday, May 3rd. 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 on the stock in a report on Friday, May 3rd. CIBC cut shares of AutoCanada from a neutral rating to an underperform rating and decreased their price target for the stock from C$25.00 to C$18.00 in a research note on Friday, May 3rd. Finally, Canaccord Genuity Group dropped their price objective on shares of AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of C$23.00.

AutoCanada Stock Up 0.3 %

ACQ stock opened at C$21.07 on Monday. The stock has a market cap of C$497.46 million, a P/E ratio of 10.23, a PEG ratio of 0.30 and a beta of 2.60. 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 twelve month low of C$15.14 and a twelve month high of C$27.54. The company’s 50 day moving average is C$24.00 and its two-hundred day moving average is C$22.34.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results 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 net margin of 0.78% and a return on equity of 10.23%. The firm had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. Research analysts expect that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. purchased 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of C$23.92 per share, with a total value of C$89,694.38. Insiders have bought a total of 34,650 shares of company stock valued at $885,855 over the last quarter. 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.