CIBC Boosts AutoCanada (TSE:ACQ) Price Target to C$25.00

AutoCanada (TSE:ACQ) had its price objective raised by CIBC from C$22.00 to C$25.00 in a report released on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

ACQ has been the topic of a number of other reports. Scotiabank raised their price objective on shares of AutoCanada from C$26.00 to C$28.00 and gave the company an outperform rating in a report on Friday, March 8th. Cormark set a C$35.00 price target on shares of AutoCanada in a research note on Tuesday, March 19th. Canaccord Genuity Group cut their price target on shares of AutoCanada from C$22.00 to C$20.00 and set a hold rating on the stock in a research note on Friday, March 8th. BMO Capital Markets cut their price target on shares of AutoCanada from C$24.00 to C$23.00 and set a market perform rating on the stock in a research note on Friday, March 8th. Finally, National Bankshares cut their price target on shares of AutoCanada from C$24.50 to C$22.00 and set a sector perform rating on the stock in a research note on Friday, March 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of C$27.95.

AutoCanada Price Performance

Shares of ACQ opened at C$24.15 on Friday. AutoCanada has a twelve month low of C$15.14 and a twelve month high of C$27.54. The firm’s fifty day simple moving average is C$23.60 and its 200-day simple moving average is C$22.51. The firm has a market capitalization of C$570.18 million, a price-to-earnings ratio of 11.72, a PEG ratio of 0.30 and a beta of 2.60. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 396.08.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data 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. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. The business had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. Equities analysts forecast that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. bought 3,750 shares of the stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average price of C$23.92 per share, with a total value of C$89,694.38. Insiders have bought a total of 29,650 shares of company stock valued at $766,165 over the last quarter. 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.