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

AutoCanada (TSE:ACQ) had its price objective reduced by BMO Capital Markets from C$19.50 to C$19.00 in a research note released on Thursday morning,BayStreet.CA reports.

A number of other analysts have also issued reports on the stock. Royal Bank of Canada cut 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 note on Wednesday, August 14th. Canaccord Genuity Group reduced 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. Acumen Capital decreased their price target on shares of AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. CIBC cut their price objective on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating on the stock in a research report on Wednesday, August 14th. Finally, ATB Capital decreased their target price on AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AutoCanada has an average rating of “Hold” and an average target price of C$19.50.

AutoCanada Trading Down 1.7 %

Shares of TSE:ACQ traded down C$0.32 during mid-day trading on Thursday, reaching C$18.58. 21,753 shares of the company were exchanged, compared to its average volume of 47,775. AutoCanada has a 1 year low of C$13.75 and a 1 year high of C$27.44. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25. The firm’s 50-day simple moving average is C$15.47 and its 200 day simple moving average is C$17.78. The firm has a market cap of C$430.87 million, a price-to-earnings ratio of -12.04, a P/E/G 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) EPS for the quarter, missing the consensus estimate of C$0.34 by C($1.30). AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. The firm had revenue of C$1.60 billion for the quarter, compared to analysts’ expectations of C$1.62 billion. Equities research analysts forecast that AutoCanada will post 2.4311927 EPS for the current year.

Insider Buying and Selling at AutoCanada

In related news, insider EdgePoint Investment Group Inc. acquired 18,200 shares of AutoCanada stock in a transaction dated Thursday, August 29th. The stock was acquired at an average price of C$14.88 per share, for a total transaction of C$270,901.54. Insiders have acquired a total of 119,500 shares of company stock worth $1,779,856 over the last ninety days. Corporate 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.