Acumen Capital cut shares of AutoCanada (TSE:ACQ – Free Report) from a speculative buy rating to a hold rating in a report published on Friday morning, BayStreet.CA reports. The brokerage currently has C$21.50 target price on the stock, down from their prior target price of C$24.50.
ACQ has been the subject of a number of other reports. Scotiabank increased their price target on AutoCanada from C$26.00 to C$28.00 and gave the company an outperform rating in a research report on Friday, March 8th. National Bankshares reduced their target price on AutoCanada from C$24.50 to C$22.00 and set a sector perform rating for the company in a report on Friday, March 8th. Canaccord Genuity Group cut their price objective on AutoCanada from C$20.00 to C$18.00 and set a hold rating for the company in a report on Friday. CIBC raised their target price on shares of AutoCanada from C$22.00 to C$25.00 and gave the company a neutral rating in a research note on Friday, April 19th. Finally, BMO Capital Markets cut their price target 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, AutoCanada has an average rating of Hold and a consensus target price of C$22.95.
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AutoCanada Trading Down 1.2 %
AutoCanada (TSE:ACQ – Get Free Report) last posted its earnings results on Thursday, March 7th. The company reported C$0.69 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 the consensus estimate of C$1.43 billion. Analysts expect that AutoCanada will post 3.0424469 earnings per share for the current year.
Insider Activity
In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 21,200 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average cost of C$26.64 per share, with a total value of C$564,865.52. Insiders have bought a total of 34,650 shares of company stock worth $885,855 over the last 90 days. 4.70% of the stock is currently 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.
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