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

AutoCanada (TSE:ACQ) had its target price lowered by BMO Capital Markets from C$23.00 to C$21.00 in a report issued on Monday, BayStreet.CA reports.

A number of other research analysts have also recently issued reports on ACQ. ATB Capital cut AutoCanada from an outperform rating to a sector perform rating and cut their price target for the company from C$62.00 to C$25.00 in a report on Friday, May 3rd. CIBC lowered shares of AutoCanada from a neutral rating to an underperform rating and cut their price objective for the company from C$25.00 to C$18.00 in a report on Friday, May 3rd. Royal Bank of Canada reduced their price target on AutoCanada from C$22.00 to C$21.00 and set a sector perform rating on the stock in a research report on Friday, May 3rd. Cormark set a C$35.00 target price on AutoCanada in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group reduced 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, May 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of C$23.00.

AutoCanada Stock Performance

Shares of ACQ opened at C$21.00 on Monday. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. AutoCanada has a 1 year low of C$15.14 and a 1 year high of C$27.54. The firm has a fifty day moving average of C$24.00 and a 200-day moving average of C$22.35. The company has a market cap of C$495.81 million, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last announced its quarterly 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. The business 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%. As a group, equities analysts anticipate that AutoCanada will post 3.0424469 earnings per share for the current year.

Insider Buying and Selling

In other news, insider EdgePoint Investment Group Inc. acquired 21,200 shares of the business’s stock in a transaction dated 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. In the last ninety days, insiders acquired 34,650 shares of company stock valued at $885,855. Company insiders own 4.70% of the company’s stock.

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.