AutoCanada (TSE:ACQ) Downgraded by ATB Capital to "Sector Perform"

AutoCanada (TSE:ACQ - Get Free Report) was downgraded by equities research analysts at ATB Capital from an "outperform" rating to a "sector perform" rating in a research note issued on Friday, BayStreet.CA reports. They currently have a C$25.00 price target on the stock, down from their previous price target of C$62.00. ATB Capital's price target points to a potential upside of 22.97% from the stock's current price.

Other equities analysts have also recently issued reports about the company. National Bankshares dropped their price objective on AutoCanada from C$24.50 to C$22.00 and set a "sector perform" rating for the company in a report on Friday, March 8th. Scotiabank increased their price objective on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an "outperform" rating in a research note on Friday, March 8th. Acumen Capital downgraded shares of AutoCanada from a "speculative buy" rating to a "hold" rating and lowered their price objective for the company from C$24.50 to C$21.50 in a research report on Friday. Cormark set a C$35.00 price objective on AutoCanada in a research report on Tuesday, March 19th. Finally, BMO Capital Markets dropped their target price on shares of AutoCanada from C$24.00 to C$23.00 and set a "market perform" rating for the company in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of C$22.95.

AutoCanada Trading Down 1.2 %

Shares of AutoCanada stock traded down C$0.24 during trading on Friday, hitting C$20.33. 391,491 shares of the company were exchanged, compared to its average volume of 40,340. The firm has a market capitalization of C$479.99 million, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The firm's fifty day moving average price is C$24.01 and its 200 day moving average price is C$22.44. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25. AutoCanada has a 1-year low of C$15.14 and a 1-year high of C$27.54.

AutoCanada (TSE:ACQ - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, beating analysts' consensus estimates of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. As a group, sell-side analysts expect that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.

Insider Activity at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 21,200 shares of the business's stock in a transaction dated Tuesday, March 19th. The stock was bought at an average price of C$26.64 per share, with a total value of C$564,865.52. In the last ninety days, insiders acquired 34,650 shares of company stock worth $885,855. Corporate insiders own 4.70% 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.