AutoCanada (TSE:ACQ) Downgraded by BMO Capital Markets to Market Perform

AutoCanada (TSE:ACQ) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. They currently have a C$24.00 price objective on the stock. BMO Capital Markets’ price target would indicate a potential upside of 10.65% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. National Bank Financial dropped 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 note on Monday, July 13th. Acumen Capital boosted their price objective on shares of AutoCanada from C$25.00 to C$27.00 and gave the stock a “speculative buy” rating in a research note on Thursday, May 14th. Royal Bank Of Canada lifted their target price on AutoCanada from C$18.00 to C$23.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 26th. Finally, ATB Cormark Capital Markets reduced their price objective on AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$22.57.

AutoCanada Stock Down 5.9%

Shares of ACQ stock traded down C$1.35 during trading hours on Monday, hitting C$21.69. 46,615 shares of the company’s stock traded hands, compared to its average volume of 54,403. AutoCanada has a 12-month low of C$14.00 and a 12-month high of C$35.48. The company has a quick ratio of 0.25, a current ratio of 1.07 and a debt-to-equity ratio of 448.50. The stock has a market cap of C$499.54 million, a price-to-earnings ratio of 20.86, a PEG ratio of 0.30 and a beta of 1.70. The stock’s fifty day simple moving average is C$22.17 and its two-hundred day simple moving average is C$23.26.

AutoCanada (TSE:ACQ) last issued its earnings results on Wednesday, May 13th. The company reported C$0.21 earnings per share for the quarter. The business had revenue of C$1.19 billion during the quarter. AutoCanada had a return on equity of 5.29% and a net margin of 0.51%. On average, analysts expect that AutoCanada will post 2.4311927 EPS for the current year.

AutoCanada Company Profile

AutoCanada’s Canadian Dealership Operations include 64 franchised dealerships representing 23 automotive brands across eight provinces, as well as three independent used dealerships. The Company currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen vehicles. In 2024, AutoCanada’s Canadian dealerships sold approximately 85,000 new and used retail vehicles.