AutoCanada (TSE:ACQ) Stock Price Down 15.5% – Here’s What Happened

AutoCanada Inc. (TSE:ACQ) shares fell 15.5% on Thursday . The stock traded as low as C$14.00 and last traded at C$16.91. 83,378 shares changed hands during mid-day trading, an increase of 42% from the average session volume of 58,808 shares. The stock had previously closed at C$20.01.

Wall Street Analyst Weigh In

ACQ has been the topic of several recent research reports. National Bank Financial lowered their price objective on AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Acumen Capital boosted their target price on shares of AutoCanada from C$35.50 to C$39.25 and gave the stock a “speculative buy” rating in a research note on Tuesday, January 27th. Canadian Imperial Bank of Commerce raised their price target on shares of AutoCanada from C$30.00 to C$34.00 in a research note on Thursday, February 5th. Canaccord Genuity Group boosted their price target on shares of AutoCanada from C$36.00 to C$42.00 and gave the stock a “buy” rating in a research report on Monday, January 19th. Finally, Royal Bank Of Canada decreased their price target on shares of AutoCanada from C$30.00 to C$29.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$34.04.

AutoCanada Price Performance

The company has a quick ratio of 0.25, a current ratio of 1.09 and a debt-to-equity ratio of 376.45. The company has a fifty day moving average price of C$25.77 and a two-hundred day moving average price of C$26.26. The firm has a market capitalization of C$369.12 million, a price-to-earnings ratio of -39.95, a P/E/G ratio of 0.30 and a beta of 1.76.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Wednesday, March 18th. The company reported C($0.06) EPS for the quarter. AutoCanada had a negative net margin of 0.18% and a negative return on equity of 1.67%. The company had revenue of C$1.12 billion for the quarter. On average, equities research analysts expect that AutoCanada Inc. will post 2.4311927 EPS for the current fiscal year.

AutoCanada Company Profile

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.