AutoCanada (TSE:ACQ) Given New C$19.00 Price Target at BMO Capital Markets

AutoCanada (TSE:ACQ) had its target price trimmed by BMO Capital Markets from C$19.50 to C$19.00 in a report published on Thursday,BayStreet.CA reports.

Several other research analysts also recently weighed in on the company. CIBC lowered their target price on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating on the stock in a research note on Wednesday, August 14th. ATB Capital lowered their price objective on shares of AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. Acumen Capital cut their price objective on shares of AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. Canaccord Genuity Group lowered their target price on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Finally, National Bankshares raised shares of AutoCanada from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$17.00 to C$21.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$19.50.

AutoCanada Stock Performance

AutoCanada stock traded down C$0.32 during midday trading on Thursday, hitting C$18.58. 21,753 shares of the company’s stock were exchanged, compared to its average volume of 47,775. The firm’s 50 day simple moving average is C$15.47 and its 200 day simple moving average is C$17.78. AutoCanada has a 12-month low of C$13.75 and a 12-month high of C$27.44. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03. The stock has a market cap of C$430.87 million, a price-to-earnings ratio of -12.04, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54.

AutoCanada (TSE:ACQ) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). The company had revenue of C$1.60 billion for the quarter, compared to analysts’ expectations of C$1.62 billion. AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. Equities research analysts predict that AutoCanada will post 2.4311927 EPS for the current year.

Insiders Place Their Bets

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 11,400 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of C$14.33 per share, for a total transaction of C$163,349.46. Over the last three months, insiders have purchased 119,500 shares of company stock worth $1,779,856. 4.90% of the stock is owned by company 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.