Acumen Capital Downgrades AutoCanada (TSE:ACQ) to Hold

AutoCanada (TSE:ACQ) was downgraded by equities research analysts at Acumen Capital from a “speculative buy” rating to a “hold” rating in a report released on Friday, BayStreet.CA reports. They currently have a C$21.50 target price on the stock, down from their prior target price of C$24.50. Acumen Capital’s target price indicates a potential upside of 5.76% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. National Bankshares cut their price objective 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. Scotiabank raised their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. BMO Capital Markets reduced their price target on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a research note on Friday, March 8th. Cormark set a C$35.00 price objective on shares of AutoCanada in a research note on Tuesday, March 19th. Finally, Canaccord Genuity Group dropped their target price on AutoCanada from C$20.00 to C$18.00 and set a “hold” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AutoCanada has a consensus rating of “Hold” and an average price target of C$22.95.

AutoCanada Price Performance

Shares of TSE:ACQ opened at C$20.33 on Friday. The firm’s 50 day moving average is C$24.01 and its two-hundred day moving average is C$22.41. The firm has a market capitalization of C$479.99 million, a P/E ratio of 9.87, 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 has a 52 week low of C$15.14 and a 52 week high of C$27.54.

AutoCanada (TSE:ACQ) last posted its earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. Analysts anticipate that AutoCanada will post 3.0424469 earnings per share for the current year.

Insider Activity at AutoCanada

In related news, insider EdgePoint Investment Group Inc. acquired 1,200 shares of AutoCanada stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of C$23.95 per share, with a total value of C$28,740.00. Insiders acquired a total of 34,650 shares of company stock valued at $885,855 over the last ninety days. Insiders own 4.70% of the company’s stock.

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.