AutoCanada (TSE:ACQ) Price Target Cut to C$15.00 by Analysts at CIBC

AutoCanada (TSE:ACQ) had its price objective decreased by CIBC from C$15.50 to C$15.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

A number of other analysts have also recently weighed in on ACQ. Acumen Capital reduced their target price on shares of AutoCanada from C$21.50 to C$19.75 in a report on Thursday, August 15th. National Bankshares raised AutoCanada from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$17.00 to C$21.00 in a research note on Thursday, November 14th. ATB Capital cut their target price on AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. National Bank Financial upgraded AutoCanada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group cut their price objective on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AutoCanada presently has a consensus rating of “Hold” and an average target price of C$19.44.

AutoCanada Price Performance

Shares of TSE ACQ opened at C$18.79 on Friday. AutoCanada has a twelve month low of C$13.75 and a twelve month high of C$27.44. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. The firm has a 50-day moving average of C$15.65 and a two-hundred day moving average of C$17.64. The company has a market capitalization of C$435.74 million, a price-to-earnings ratio of -11.97, a PEG ratio of 0.30 and a beta of 2.54.

Insider Transactions at AutoCanada

In related news, insider EdgePoint Investment Group Inc. purchased 18,200 shares of the stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost of C$14.88 per share, for a total transaction of C$270,901.54. Insiders purchased 119,500 shares of company stock valued at $1,779,856 over the last three months. 4.90% of the stock is owned by corporate insiders.

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.