Atb Cap Markets lowered shares of AutoCanada (TSE:ACQ – Free Report) from an outperform rating to a sector perform rating in a research report sent to investors on Friday morning, Zacks.com reports.
A number of other analysts have also recently commented on ACQ. Acumen Capital cut shares of AutoCanada from a speculative buy rating to a hold rating and dropped their target price for the company from C$24.50 to C$21.50 in a report on Friday. Royal Bank of Canada dropped 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 research note on Friday. National Bankshares decreased 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 research note on Friday. BMO Capital Markets dropped their price target on AutoCanada from C$23.00 to C$21.00 in a research report on Monday. Finally, Canaccord Genuity Group reduced their price objective on AutoCanada from C$20.00 to C$18.00 and set a hold rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of C$23.00.
Check Out Our Latest Stock Analysis on AutoCanada
AutoCanada Stock Performance
AutoCanada (TSE:ACQ – Get Free Report) last released its earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of C$1.43 billion. On average, analysts anticipate that AutoCanada will post 3.0424469 EPS for the current fiscal year.
Insider Activity at AutoCanada
In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 21,200 shares of AutoCanada stock in a transaction on Tuesday, March 19th. The stock was acquired at an average price of C$26.64 per share, with a total value of C$564,865.52. In the last three months, insiders have acquired 34,650 shares of company stock valued at $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.
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