AutoCanada (TSE:ACQ) Price Target Raised to C$25.00 at CIBC

AutoCanada (TSE:ACQ) had its price objective increased by CIBC from C$22.00 to C$25.00 in a research note released on Friday morning, BayStreet.CA reports. They currently have a neutral rating on the stock.

ACQ has been the subject of a number of other reports. BMO Capital Markets cut their price target on AutoCanada from C$24.00 to C$23.00 and set a market perform rating for the company in a report on Friday, March 8th. Cormark set a C$35.00 price target on shares of AutoCanada in a research note on Tuesday, March 19th. Scotiabank upped their price objective 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. Acumen Capital decreased their target price on shares of AutoCanada from C$33.00 to C$24.50 and set a speculative buy rating on the stock in a research report on Friday, March 8th. Finally, Canaccord Genuity Group cut their price target on AutoCanada from C$22.00 to C$20.00 and set a hold rating for the company in a report on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of C$27.95.

AutoCanada Stock Performance

Shares of ACQ stock opened at C$24.45 on Friday. AutoCanada has a 1 year low of C$15.14 and a 1 year high of C$27.54. 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 stock has a fifty day moving average price of C$23.65 and a 200 day moving average price of C$22.52. The stock has a market cap of C$577.26 million, a PE ratio of 11.87, a P/E/G ratio of 0.30 and a beta of 2.60.

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

Insider Activity

In other news, insider EdgePoint Investment Group Inc. purchased 1,400 shares of the stock in a transaction on Tuesday, April 16th. The stock was purchased at an average price of C$23.83 per share, with a total value of C$33,362.00. Insiders purchased 31,050 shares of company stock valued at $799,527 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.