National Bank Financial Issues Pessimistic Forecast for AutoCanada (TSE:ACQ) Stock Price

Key Points

• National Bank Financial cut its price target on AutoCanada from C$24.00 to C$22.00 and rates the stock "sector perform," implying roughly an 8.2% upside versus the prior close.
• Several analysts have trimmed targets recently, leaving a consensus rating of Hold with an average price target of C$23.89 (two Buys, five Holds).
• AutoCanada is trading around C$20.33 and shows strained fundamentals, including a quick ratio of 0.25, debt-to-equity of 409.72, and a recent quarterly loss of C($0.06) per share.

AutoCanada (TSE:ACQ - Get Free Report) had its target price dropped by National Bank Financial from C$24.00 to C$22.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's price target indicates a potential upside of 8.21% from the stock's previous close.

Other analysts have also issued research reports about the company. Acumen Capital upped their price objective on AutoCanada from C$35.50 to C$39.25 and gave the stock a "speculative buy" rating in a research report on Tuesday, January 27th. BMO Capital Markets dropped their target price on AutoCanada from C$36.00 to C$24.00 in a report on Friday, March 20th. Canaccord Genuity Group lowered AutoCanada from a "buy" rating to a "hold" rating and dropped their target price for the company from C$42.00 to C$22.00 in a report on Thursday, March 19th. ATB Cormark Capital Markets dropped their target price on AutoCanada from C$25.00 to C$22.00 and set a "sector perform" rating on the stock in a report on Thursday, March 19th. Finally, Royal Bank Of Canada dropped their target price on AutoCanada from C$28.00 to C$18.00 in a report on Thursday, March 19th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$23.89.

AutoCanada Trading Up 0.4%

TSE:ACQ traded up C$0.09 during trading hours on Wednesday, reaching C$20.33. 16,268 shares of the stock were exchanged, compared to its average volume of 76,479. The company has a quick ratio of 0.25, a current ratio of 1.07 and a debt-to-equity ratio of 409.72. The business has a 50-day moving average of C$23.99 and a two-hundred day moving average of C$24.75. AutoCanada has a twelve month low of C$14.00 and a twelve month high of C$35.48. The company has a market capitalization of C$467.94 million, a price-to-earnings ratio of 30.80, a PEG ratio of 0.30 and a beta of 1.82.

AutoCanada (TSE:ACQ - Get Free Report) last released its quarterly earnings results on Wednesday, March 18th. The company reported C($0.06) EPS for the quarter. AutoCanada had a return on equity of 3.40% and a net margin of 0.33%.The firm had revenue of C$1.12 billion for the quarter. On average, equities analysts predict that AutoCanada will post 2.4311927 EPS 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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