AutoCanada (TSE:ACQ) Price Target Cut to C$21.00 by Analysts at Royal Bank of Canada

AutoCanada (TSE:ACQ) had its target price lowered by Royal Bank of Canada from C$22.00 to C$21.00 in a research note published on Friday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

ACQ has been the subject of a number of other reports. CIBC downgraded shares of AutoCanada from a neutral rating to an underperform rating and reduced their price objective for the stock from C$25.00 to C$18.00 in a research report on Friday. Cormark set a C$35.00 target price on AutoCanada in a report on Tuesday, March 19th. National Bankshares dropped their price target on AutoCanada from C$24.00 to C$22.00 and set a sector perform rating on the stock in a report on Friday. Canaccord Genuity Group reduced their price objective on AutoCanada from C$20.00 to C$18.00 and set a hold rating for the company in a research note on Friday. Finally, BMO Capital Markets lowered their target price on AutoCanada from C$24.00 to C$23.00 and set a market perform rating on the stock in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of C$23.00.

AutoCanada Trading Up 3.5 %

Shares of AutoCanada stock opened at C$21.05 on Friday. The company has a market capitalization of C$496.99 million, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The stock has a fifty day simple moving average of C$24.01 and a 200 day simple moving average of C$22.38. AutoCanada has a 12-month low of C$15.14 and a 12-month high of C$27.54. 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 (TSE:ACQ) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. On average, sell-side analysts anticipate that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoCanada

In other news, insider EdgePoint Investment Group Inc. purchased 3,750 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of C$23.92 per share, for a total transaction of C$89,694.38. Insiders have bought a total of 34,650 shares of company stock worth $885,855 over the last ninety days. 4.70% of the stock is currently owned by company insiders.

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.