AutoCanada (TSE:ACQ) Cut to Underperform at CIBC

CIBC downgraded shares of AutoCanada (TSE:ACQ) from a neutral rating to an underperform rating in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has C$18.00 price target on the stock, down from their previous price target of C$25.00.

Other equities research analysts have also issued research reports about the company. Cormark set a C$35.00 target price on AutoCanada in a research note on Tuesday, March 19th. Acumen Capital downgraded AutoCanada from a speculative buy rating to a hold rating and reduced their price objective for the company from C$24.50 to C$21.50 in a research report on Friday. National Bankshares decreased their price objective on 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. BMO Capital Markets cut 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 research note on Friday, March 8th. Finally, Scotiabank upped their target price 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. One 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 company’s stock. Based on data from MarketBeat.com, AutoCanada currently has a consensus rating of Hold and a consensus target price of C$23.50.

AutoCanada Trading Down 1.2 %

TSE:ACQ opened at C$20.33 on Friday. AutoCanada has a 52-week low of C$15.14 and a 52-week high of C$27.54. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. The stock has a fifty day simple moving average of C$24.01 and a 200-day simple moving average of C$22.40. The company has a market capitalization of C$479.99 million, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last announced its earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of C$1.48 billion during the quarter, compared to analysts’ expectations of C$1.43 billion. On average, equities research analysts expect that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average cost of C$26.64 per share, for a total transaction of C$564,865.52. In the last ninety days, insiders have acquired 34,650 shares of company stock valued at $885,855. 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.