BMO Capital Markets Cuts AutoCanada (TSE:ACQ) Price Target to C$19.00

AutoCanada (TSE:ACQ) had its price objective dropped by BMO Capital Markets from C$19.50 to C$19.00 in a report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 0.53% from the company’s previous close.

ACQ has been the topic of a number of other research reports. Cormark lowered their price target on shares of AutoCanada from C$25.50 to C$21.75 in a report on Wednesday, August 14th. National Bankshares upgraded AutoCanada from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$17.00 to C$21.00 in a research note on Thursday. ATB Capital decreased their price objective on AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. CIBC dropped their price objective on shares of AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating on the stock in a report on Wednesday, August 14th. Finally, Royal Bank of Canada reduced their target price on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$19.50.

AutoCanada Stock Performance

AutoCanada stock traded up C$3.78 during mid-day trading on Thursday, reaching C$18.90. 158,670 shares of the company’s stock were exchanged, compared to its average volume of 47,590. The firm has a market capitalization of C$438.29 million, a PE ratio of -12.04, a P/E/G ratio of 0.30 and a beta of 2.54. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38. The business’s fifty day simple moving average is C$15.37 and its 200 day simple moving average is C$17.77. AutoCanada has a one year low of C$13.75 and a one year high of C$27.44.

AutoCanada (TSE:ACQ) last posted its quarterly earnings results 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 company 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, sell-side analysts expect that AutoCanada will post 2.4311927 earnings per share for the current year.

Insider Activity at AutoCanada

In related news, insider EdgePoint Investment Group Inc. bought 18,200 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of C$14.88 per share, with a total value of C$270,901.54. In the last three months, insiders have bought 119,500 shares of company stock valued at $1,779,856. Corporate insiders own 4.90% 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.