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

AutoCanada (TSE:ACQ) had its target price dropped by equities research analysts at Royal Bank of Canada from C$22.00 to C$21.00 in a report released on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 3.30% from the company’s previous close.

Several other equities research analysts have also issued reports on ACQ. Scotiabank lifted their price target on shares of AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. BMO Capital Markets dropped their price objective on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a research note on Friday, March 8th. ATB Capital cut shares of AutoCanada from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$62.00 to C$25.00 in a research note on Friday. Canaccord Genuity Group dropped their target price on shares of AutoCanada from C$20.00 to C$18.00 and set a “hold” rating for the company in a research report on Friday. Finally, Acumen Capital lowered shares of AutoCanada from a “speculative buy” rating to a “hold” rating and reduced their target price for the stock from C$24.50 to C$21.50 in a report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$22.95.

AutoCanada Trading Down 1.2 %

Shares of AutoCanada stock traded down C$0.24 during trading hours on Friday, reaching C$20.33. 391,491 shares of the company’s stock were exchanged, compared to its average volume of 40,340. The company has a fifty day moving average of C$24.03 and a 200-day moving average of C$22.47. 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 has a 52-week low of C$15.14 and a 52-week high of C$27.54. The firm has a market capitalization of C$479.99 million, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last posted its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.56 by C$0.13. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. The company had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. Sell-side analysts forecast that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insider Activity

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 1,200 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were acquired at an average cost of C$23.95 per share, with a total value of C$28,740.00. Insiders have acquired 34,650 shares of company stock worth $885,855 in the last ninety days. Company insiders own 4.70% of the company’s stock.

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.