AutoCanada (TSE:ACQ) Stock Rating Lowered by Acumen Capital

AutoCanada (TSE:ACQ) was downgraded by research analysts at Acumen Capital from a “speculative buy” rating to a “hold” rating in a report issued on Friday, BayStreet.CA reports. They currently have a C$21.50 target price on the stock, down from their prior target price of C$24.50. Acumen Capital’s target price would suggest a potential upside of 5.76% from the company’s previous close.

ACQ has been the subject of a number of other research reports. Canaccord Genuity Group cut 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 note on Friday. BMO Capital Markets cut their target price 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. CIBC raised their target price on shares of AutoCanada from C$22.00 to C$25.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Cormark set a C$35.00 price objective on shares of AutoCanada in a research note on Tuesday, March 19th. Finally, National Bankshares dropped their price objective on shares of AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating for the company in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$22.95.

AutoCanada Stock Performance

Shares of TSE:ACQ traded down C$0.24 on Friday, hitting C$20.33. 391,491 shares of the company were exchanged, compared to its average volume of 40,340. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. The firm has a market capitalization of C$479.99 million, a price-to-earnings ratio of 9.87, a PEG ratio of 0.30 and a beta of 2.60. AutoCanada has a one year low of C$15.14 and a one year high of C$27.54. The company’s 50 day moving average price is C$24.03 and its two-hundred day moving average price is C$22.47.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The business had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. Research analysts expect that AutoCanada will post 3.0424469 earnings per share for the current year.

Insiders Place Their Bets

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 4,700 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was acquired at an average price of C$23.75 per share, with a total value of C$111,604.79. In the last 90 days, insiders acquired 34,650 shares of company stock valued at $885,855. 4.70% of the stock is owned by insiders.

AutoCanada Company Profile

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.