National Bank Financial Issues Pessimistic Forecast for AutoCanada (TSE:ACQ) Stock Price

AutoCanada (TSE:ACQ) had its price objective lowered by research analysts at National Bank Financial from C$24.00 to C$22.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 8.21% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. ATB Cormark Capital Markets decreased their price objective on shares of AutoCanada from C$25.00 to C$22.00 and set a “sector perform” rating for the company in a research note on Thursday, March 19th. Canaccord Genuity Group downgraded shares of AutoCanada from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$42.00 to C$22.00 in a research note on Thursday, March 19th. Royal Bank Of Canada decreased their target price on shares of AutoCanada from C$28.00 to C$18.00 in a research note on Thursday, March 19th. BMO Capital Markets decreased their target price on shares of AutoCanada from C$36.00 to C$24.00 in a research note on Friday, March 20th. Finally, Canadian Imperial Bank of Commerce downgraded shares of AutoCanada from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$34.00 to C$20.00 in a research report on Friday, March 20th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoCanada presently has a consensus rating of “Hold” and an average target price of C$23.89.

AutoCanada Stock Performance

TSE ACQ traded up C$0.09 during trading hours on Wednesday, hitting C$20.33. The company had a trading volume of 16,268 shares, compared to its average volume of 76,479. The company has a debt-to-equity ratio of 409.72, a quick ratio of 0.25 and a current ratio of 1.07. AutoCanada has a 1-year low of C$14.00 and a 1-year high of C$35.48. The company has a market cap of C$467.94 million, a PE ratio of 30.80, a price-to-earnings-growth ratio of 0.30 and a beta of 1.82. The business has a 50 day moving average of C$23.99 and a 200-day moving average of C$24.75.

AutoCanada (TSE:ACQ) last released its quarterly earnings data on Wednesday, March 18th. The company reported C($0.06) earnings per share (EPS) for the quarter. AutoCanada had a net margin of 0.33% and a return on equity of 3.40%. The company had revenue of C$1.12 billion during the quarter. As a group, equities research analysts expect that AutoCanada will post 2.4311927 EPS for the current year.

About AutoCanada

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.