AutoCanada (TSE:ACQ) Stock Price Down 11.6%

AutoCanada Inc. (TSE:ACQ) shares traded down 11.6% during trading on Wednesday . The company traded as low as C$15.00 and last traded at C$16.00. 82,805 shares traded hands during mid-day trading, an increase of 100% from the average session volume of 41,434 shares. The stock had previously closed at C$18.09.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ACQ shares. ATB Capital cut AutoCanada from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$62.00 to C$25.00 in a research report on Friday, May 3rd. Canaccord Genuity Group lowered their price target on shares of AutoCanada from C$20.00 to C$18.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Scotiabank reduced their price objective on shares of AutoCanada from C$28.00 to C$25.50 and set an “outperform” rating for the company in a research note on Monday, May 6th. Atb Cap Markets downgraded shares of AutoCanada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 3rd. Finally, BMO Capital Markets dropped their target price on shares of AutoCanada from C$23.00 to C$21.00 in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AutoCanada has an average rating of “Hold” and a consensus price target of C$23.00.

AutoCanada Price Performance

The company has a market cap of C$359.33 million, a P/E ratio of 9.43, a PEG ratio of 0.30 and a beta of 2.54. The firm’s 50-day moving average is C$19.34 and its two-hundred day moving average is C$21.51. The company has a debt-to-equity ratio of 408.35, a current ratio of 1.05 and a quick ratio of 0.25.

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.