Scotiabank Cuts AutoCanada (TSE:ACQ) Price Target to C$25.50

AutoCanada (TSE:ACQ - Get Free Report) had its price target decreased by research analysts at Scotiabank from C$28.00 to C$25.50 in a report released on Monday, BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 21.14% from the company's current price.

Other equities research analysts also recently issued research reports about the company. CIBC downgraded AutoCanada from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from C$25.00 to C$18.00 in a research report on Friday. ATB Capital cut AutoCanada from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from C$62.00 to C$25.00 in a report on Friday. Royal Bank of Canada cut their price objective on shares of AutoCanada from C$22.00 to C$21.00 and set a "sector perform" rating on the stock in a report on Friday. National Bankshares lowered their target price on shares of AutoCanada from C$24.00 to C$22.00 and set a "sector perform" rating for the company in a report on Friday. Finally, BMO Capital Markets dropped their price target on shares of AutoCanada from C$23.00 to C$21.00 in a research report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$23.00.

AutoCanada Price Performance

Shares of ACQ traded up C$0.72 during mid-day trading on Monday, reaching C$21.05. 46,145 shares of the company's stock were exchanged, compared to its average volume of 40,408. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. AutoCanada has a 52-week low of C$15.14 and a 52-week high of C$27.54. The company has a market cap of C$496.99 million, a price-to-earnings ratio of 10.22, a PEG ratio of 0.30 and a beta of 2.60. The company has a 50-day simple moving average of C$24.01 and a two-hundred day simple moving average of C$22.38.

AutoCanada (TSE:ACQ - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, topping the consensus estimate of C$0.56 by C$0.13. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. The company had revenue of C$1.48 billion during the quarter, compared to the consensus estimate of C$1.43 billion. On average, sell-side analysts predict that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insiders Place Their Bets

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 21,200 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average cost of C$26.64 per share, with a total value of C$564,865.52. Insiders acquired a total of 34,650 shares of company stock worth $885,855 over the last ninety days. 4.70% of the stock is owned by company insiders.

AutoCanada Company Profile

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.