ATB Cormark Capital Markets Has Lowered Expectations for AutoCanada (TSE:ACQ) Stock Price

Key Points

• ATB Cormark cut its price objective on AutoCanada from C$25.00 to C$22.00 and kept a "sector perform" rating, implying roughly 29% upside from the recent share price.
• Analysts are split—three rate the stock "Buy" and four "Hold"—with a MarketBeat consensus of Hold and a consensus price target of C$28.46, while individual targets range from about C$18 to C$42.
• Shares tumbled about 15.0% to C$17 on heavy volume, trading near their one‑year low and below the 50- and 200-day averages, as the company reported negative EPS, a negative net margin and a very high debt-to-equity ratio (~376).

AutoCanada (TSE:ACQ - Get Free Report) had its price objective dropped by investment analysts at ATB Cormark Capital Markets from C$25.00 to C$22.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective would suggest a potential upside of 29.41% from the stock's current price.

A number of other brokerages also recently issued reports on ACQ. Canaccord Genuity Group lifted their price objective on shares of AutoCanada from C$36.00 to C$42.00 and gave the stock a "buy" rating in a research report on Monday, January 19th. National Bank Financial decreased their target price on shares of AutoCanada from C$31.00 to C$29.00 and set an "outperform" rating for the company in a research report on Monday, December 15th. Acumen Capital raised their target price on shares of AutoCanada from C$35.50 to C$39.25 and gave the company a "speculative buy" rating in a research note on Tuesday, January 27th. Royal Bank Of Canada cut their price target on shares of AutoCanada from C$28.00 to C$18.00 in a report on Thursday. Finally, Canadian Imperial Bank of Commerce upped their price target on AutoCanada from C$30.00 to C$34.00 in a research report on Thursday, February 5th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, AutoCanada currently has a consensus rating of "Hold" and a consensus price target of C$28.46.

AutoCanada Stock Down 15.0%

Shares of TSE ACQ traded down C$3.01 during mid-day trading on Thursday, reaching C$17.00. 336,948 shares of the company were exchanged, compared to its average volume of 64,532. AutoCanada has a 1 year low of C$14.00 and a 1 year high of C$35.48. The firm has a 50-day moving average of C$25.77 and a 200 day moving average of C$26.26. The stock has a market cap of C$392.68 million, a price-to-earnings ratio of -42.50, a P/E/G ratio of 0.30 and a beta of 1.76. The company has a quick ratio of 0.25, a current ratio of 1.09 and a debt-to-equity ratio of 376.45.

AutoCanada (TSE:ACQ - Get Free Report) last posted its earnings results on Wednesday, March 18th. The company reported C($0.06) earnings per share (EPS) for the quarter. The company had revenue of C$1.12 billion during the quarter. AutoCanada had a negative net margin of 0.18% and a negative return on equity of 1.67%. On average, research analysts expect that AutoCanada will post 2.4311927 earnings per share for the current year.

AutoCanada Company Profile

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.

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