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

AutoCanada (TSE:ACQ) had its price objective hoisted by analysts at CIBC from C$22.00 to C$25.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target suggests a potential upside of 4.17% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Scotiabank boosted 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. Cormark set a C$35.00 price target on AutoCanada in a research report on Tuesday, March 19th. Acumen Capital lowered their price target on AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a research report on Friday, March 8th. National Bankshares lowered their price target on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating for the company in a research report on Friday, March 8th. Finally, Canaccord Genuity Group decreased their target price on AutoCanada from C$22.00 to C$20.00 and set a “hold” rating for the company in a research report on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$27.95.

AutoCanada Stock Down 1.3 %

Shares of TSE ACQ traded down C$0.31 during midday trading on Friday, hitting C$24.00. 17,173 shares of the company’s stock were exchanged, compared to its average volume of 32,151. The firm’s fifty day simple moving average is C$23.54 and its 200-day simple moving average is C$22.51. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25. The company has a market cap of C$566.64 million, a PE ratio of 11.67, a P/E/G ratio of 0.30 and a beta of 2.60. AutoCanada has a twelve month low of C$15.14 and a twelve month high of C$27.54.

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

Insider Activity at AutoCanada

In other news, insider EdgePoint Investment Group Inc. acquired 3,750 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of C$23.92 per share, for a total transaction of C$89,694.38. Over the last 90 days, insiders acquired 29,650 shares of company stock valued at $766,165. 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.