AutoCanada (TSE:ACQ) Price Target Lowered to C$15.00 at CIBC

AutoCanada (TSE:ACQ) had its price objective dropped by analysts at CIBC from C$15.50 to C$15.00 in a report released on Friday,BayStreet.CA reports. CIBC’s price target indicates a potential downside of 19.83% from the company’s current price.

Several other analysts have also commented on ACQ. ATB Capital decreased their price target on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. National Bank Financial raised AutoCanada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Cormark decreased their price target on AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. Canaccord Genuity Group decreased their price target on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, BMO Capital Markets decreased their price target on AutoCanada from C$19.50 to C$19.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AutoCanada has an average rating of “Hold” and a consensus price target of C$19.44.

AutoCanada Stock Performance

Shares of TSE:ACQ traded down C$0.19 during trading on Friday, hitting C$18.71. 24,928 shares of the stock were exchanged, compared to its average volume of 47,790. AutoCanada has a 1-year low of C$13.75 and a 1-year high of C$27.44. The company has a market capitalization of C$433.88 million, a price-to-earnings ratio of -11.92, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company’s fifty day simple moving average is C$15.47 and its 200-day simple moving average is C$17.78. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03.

AutoCanada (TSE:ACQ) last announced 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). 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 analyst estimates of C$1.62 billion. Sell-side analysts expect that AutoCanada will post 2.4311927 EPS for the current fiscal year.

Insider Buying and Selling at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 27,200 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of C$15.47 per share, with a total value of C$420,900.96. Over the last ninety days, insiders acquired 119,500 shares of company stock valued at $1,779,856. Company 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.