AutoCanada (TSE:ACQ) Price Target Lowered to C$23.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reduced AutoCanada's price target from C$27.00 to C$23.00, indicating a potential downside of 26.21% based on the stock's previous close.
• In contrast, other analysts have boosted their price targets, with Acumen Capital raising it to C$39.00 and BMO Capital Markets increasing it to C$40.00, reflecting varied outlooks among analysts.
• The stock has experienced a slight decrease of 0.5%, trading at C$31.17, amidst fluctuating analysts' ratings, where it has an average rating of "Moderate Buy" and a consensus price target of C$32.21.

AutoCanada (TSE:ACQ - Free Report) had its target price trimmed by Royal Bank Of Canada from C$27.00 to C$23.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also weighed in on the company. National Bankshares upped their target price on AutoCanada from C$28.00 to C$36.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. BMO Capital Markets upgraded AutoCanada from a "hold" rating to an "outperform" rating and raised their target price for the stock from C$20.00 to C$40.00 in a research note on Thursday, August 14th. Acumen Capital lifted their price objective on AutoCanada from C$30.50 to C$39.00 and gave the company a "speculative buy" rating in a research note on Thursday, August 14th. ATB Capital raised their target price on AutoCanada from C$25.00 to C$32.00 and gave the company a "sector perform" rating in a research report on Thursday, August 14th. Finally, Cibc World Mkts upgraded AutoCanada from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$32.21.

AutoCanada Trading Down 1.7%

Shares of ACQ traded down C$0.52 during mid-day trading on Friday, reaching C$30.88. 38,926 shares of the company's stock traded hands, compared to its average volume of 29,842. The stock has a market cap of C$718.63 million, a P/E ratio of -14.25, a P/E/G ratio of 0.30 and a beta of 2.54. The stock's 50-day moving average is C$25.52 and its two-hundred day moving average is C$20.46. AutoCanada has a 12 month low of C$13.75 and a 12 month high of C$33.87. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25.

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.