AutoCanada (TSE:ACQ) Given New C$15.00 Price Target at CIBC

AutoCanada (TSE:ACQ) had its price objective lowered by CIBC from C$15.50 to C$15.00 in a report published on Friday,BayStreet.CA reports.

ACQ has been the topic of several other research reports. 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. Royal Bank of Canada dropped their price target on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. ATB Capital dropped their price target on shares of AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. BMO Capital Markets dropped their price target on shares of AutoCanada from C$19.50 to C$19.00 in a research report on Thursday. Finally, Canaccord Genuity Group dropped their price target on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AutoCanada has an average rating of “Hold” and an average price target of C$19.44.

AutoCanada Price Performance

ACQ remained flat at C$18.90 during midday trading on Friday. 48,600 shares of the company traded hands, compared to its average volume of 47,896. The stock has a market capitalization of C$438.29 million, a P/E ratio of -12.04, a PEG ratio of 0.30 and a beta of 2.54. The company’s 50 day moving average price is C$15.56 and its two-hundred day moving average price is C$17.74. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. AutoCanada has a 52-week low of C$13.75 and a 52-week high of C$27.44.

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

Insider Transactions at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 7,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of C$14.33 per share, for a total transaction of C$108,939.16. Over the last quarter, insiders have purchased 119,500 shares of company stock worth $1,779,856. Insiders own 4.90% 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.