AutoCanada (TSE:ACQ) Price Target Cut to C$19.00 by Analysts at BMO Capital Markets

AutoCanada (TSE:ACQ) had its price objective reduced by investment analysts at BMO Capital Markets from C$19.50 to C$19.00 in a report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 0.53% from the company’s current price.

A number of other brokerages have also commented on ACQ. Cormark reduced their price target on shares of AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. CIBC reduced their target price on shares of AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a report on Wednesday, August 14th. Royal Bank of Canada reduced their price objective on 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. ATB Capital decreased their target price on AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. Finally, Acumen Capital decreased their target price on shares of AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$19.50.

AutoCanada Stock Up 25.0 %

TSE:ACQ traded up C$3.78 during mid-day trading on Thursday, hitting C$18.90. 158,670 shares of the company’s stock were exchanged, compared to its average volume of 47,590. AutoCanada has a one year low of C$13.75 and a one 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 company has a market cap 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 business has a fifty day moving average price of C$15.37 and a 200 day moving average price of C$17.77.

AutoCanada (TSE:ACQ) last announced 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 firm had revenue of C$1.60 billion during the quarter, compared to the consensus estimate of C$1.62 billion. AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. Equities analysts predict that AutoCanada will post 2.4311927 EPS for the current year.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. acquired 37,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was acquired at an average price of C$14.98 per share, with a total value of C$554,400.60. Insiders purchased 119,500 shares of company stock valued at $1,779,856 in the last ninety days. 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.