BMO Capital Markets Cuts AutoCanada (TSE:ACQ) Price Target to C$21.00

AutoCanada (TSE:ACQ) had its price objective decreased by research analysts at BMO Capital Markets from C$23.00 to C$21.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. BMO Capital Markets’ price objective indicates a potential upside of 0.24% from the stock’s current price.

ACQ has been the topic of a number of other research reports. Canaccord Genuity Group dropped their price objective on shares of AutoCanada from C$20.00 to C$18.00 and set a “hold” rating on the stock in a research note on Friday. Royal Bank of Canada decreased their price objective on shares of AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a research report on Friday. ATB Capital lowered AutoCanada from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$62.00 to C$25.00 in a report on Friday. National Bankshares decreased their price objective on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, CIBC lowered shares of AutoCanada from a “neutral” rating to an “underperform” rating and decreased their price target for the company from C$25.00 to C$18.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$23.00.

AutoCanada Stock Performance

Shares of ACQ traded up C$0.62 during trading hours on Monday, reaching C$20.95. 28,302 shares of the company traded hands, compared to its average volume of 40,204. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. The business has a fifty day moving average price of C$24.01 and a 200-day moving average price of C$22.40. AutoCanada has a 12-month low of C$15.14 and a 12-month high of C$27.54. The stock has a market capitalization of C$494.63 million, a P/E ratio of 10.17, a P/E/G ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, topping 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 firm had revenue of C$1.48 billion during the quarter, compared to analysts’ expectations of C$1.43 billion. Equities analysts anticipate that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insider Buying and Selling at AutoCanada

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 stock was bought at an average cost of C$26.64 per share, for a total transaction of C$564,865.52. Insiders have bought 34,650 shares of company stock worth $885,855 in the last ninety days. 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.