AutoCanada (TSE:ACQ) Given New C$15.50 Price Target at CIBC

AutoCanada (TSE:ACQFree Report) had its target price lowered by CIBC from C$18.00 to C$15.50 in a research note released on Wednesday morning, BayStreet.CA reports. The brokerage currently has an underperform rating on the stock.

Several other analysts have also recently weighed in on the stock. National Bankshares decreased their price objective on shares of AutoCanada from C$20.00 to C$17.00 and set a sector perform rating on the stock in a research note on Wednesday. Atb Cap Markets cut shares of AutoCanada from an outperform rating to a sector perform rating in a research note on Friday, May 3rd. BMO Capital Markets decreased their price objective on shares of AutoCanada from C$23.00 to C$21.00 in a research note on Monday, May 6th. Cormark decreased their price objective on shares of AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price objective on shares of AutoCanada from C$21.00 to C$18.00 and set a sector perform rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of C$19.11.

Read Our Latest Stock Analysis on ACQ

AutoCanada Price Performance

Shares of AutoCanada stock opened at C$14.65 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.25 and a debt-to-equity ratio of 408.35. The stock has a market capitalization of C$343.84 million, a price-to-earnings ratio of 8.93, a P/E/G ratio of 0.30 and a beta of 2.54. AutoCanada has a 1-year low of C$14.20 and a 1-year high of C$27.54. The firm’s 50-day moving average price is C$18.97 and its two-hundred day moving average price is C$21.36.

Insider Activity

In other AutoCanada news, Director Christopher Harris acquired 5,000 shares of AutoCanada stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of C$14.48 per share, with a total value of C$72,400.00. Insiders have purchased 8,000 shares of company stock valued at $131,300 over the last three months. 4.79% of the stock is owned by insiders.

About AutoCanada

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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.

Further Reading

Analyst Recommendations for AutoCanada (TSE:ACQ)

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