Canaccord Genuity Group Trims AutoCanada (TSE:ACQ) Target Price to C$18.00

AutoCanada (TSE:ACQ) had its price objective decreased by Canaccord Genuity Group from C$20.00 to C$18.00 in a report published on Friday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

ACQ has been the topic of several other reports. BMO Capital Markets lowered their target price on 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. National Bankshares lowered their target price on shares of AutoCanada from C$24.50 to C$22.00 and set a sector perform rating on the stock in a report on Friday, March 8th. Acumen Capital dropped their price objective on AutoCanada from C$33.00 to C$24.50 and set a speculative buy rating on the stock in a report on Friday, March 8th. Cormark set a C$35.00 target price on AutoCanada in a report on Tuesday, March 19th. Finally, CIBC increased their price target on shares of AutoCanada from C$22.00 to C$25.00 and gave the stock a neutral rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, AutoCanada currently has an average rating of Hold and an average target price of C$23.50.

AutoCanada Stock Performance

Shares of AutoCanada stock opened at C$20.33 on Friday. The firm has a market cap of C$479.99 million, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. AutoCanada has a one year low of C$15.14 and a one year high of C$27.54. The stock’s 50-day moving average is C$24.01 and its 200-day moving average is C$22.40. 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 (TSE:ACQ) last announced its quarterly earnings data 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 firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. Equities analysts predict that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider EdgePoint Investment Group Inc. purchased 3,750 shares of the stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of C$23.92 per share, with a total value of C$89,694.38. Over the last 90 days, insiders have acquired 34,650 shares of company stock worth $885,855. 4.70% of the stock is owned by corporate insiders.

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.