AutoCanada (TSE:ACQ) Given New C$23.00 Price Target 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 - Get Free Report) had its price objective dropped by Royal Bank Of Canada from C$27.00 to C$23.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential downside of 26.21% from the company's previous close.

ACQ has been the subject of a number of other reports. Acumen Capital boosted their price objective on shares of AutoCanada from C$30.50 to C$39.00 and gave the stock a "speculative buy" rating in a research note on Thursday. Canaccord Genuity Group boosted their price objective on shares of AutoCanada from C$24.00 to C$28.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. BMO Capital Markets upgraded shares of AutoCanada from a "market perform" rating to an "outperform" rating and upped their target price for the company from C$20.00 to C$40.00 in a research note on Thursday. Cibc World Mkts upgraded shares of AutoCanada from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, National Bankshares upped their target price on shares of AutoCanada from C$28.00 to C$36.00 and gave the company an "outperform" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$32.21.

AutoCanada Stock Down 0.5%

TSE ACQ traded down C$0.15 during trading on Friday, reaching C$31.17. The company's stock had a trading volume of 123,860 shares, compared to its average volume of 28,593. The business has a 50-day moving average price of C$24.80 and a 200-day moving average price of C$20.15. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54. AutoCanada has a 1-year low of C$13.75 and a 1-year high of C$33.87. The stock has a market capitalization of C$725.38 million, a PE ratio of -14.38, a PEG ratio of 0.30 and a beta of 2.54.

Insider Transactions at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 4,880 shares of the stock in a transaction on Wednesday, May 21st. The shares were purchased at an average price of C$19.78 per share, with a total value of C$96,548.36. Over the last 90 days, insiders have acquired 7,440 shares of company stock valued at $151,743. Insiders own 4.90% of the company's stock.

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.

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