AutoCanada (TSE:ACQ) PT Lowered to C$25.50 at Scotiabank

AutoCanada (TSE:ACQ) had its price objective cut by investment analysts at Scotiabank from C$28.00 to C$25.50 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 21.72% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada cut their price target on shares of AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a report on Friday. Cormark set a C$35.00 price target on shares of AutoCanada in a research report on Tuesday, March 19th. BMO Capital Markets reduced their price objective on AutoCanada from C$23.00 to C$21.00 in a report on Monday. ATB Capital lowered shares of AutoCanada from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$62.00 to C$25.00 in a research report on Friday. Finally, Acumen Capital lowered shares of AutoCanada from a “speculative buy” rating to a “hold” rating and lowered their price target for the company from C$24.50 to C$21.50 in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$23.00.

AutoCanada Stock Performance

AutoCanada stock traded up C$0.62 during mid-day trading on Monday, reaching C$20.95. 28,302 shares of the company were exchanged, compared to its average volume of 40,204. AutoCanada has a twelve month low of C$15.14 and a twelve month high of C$27.54. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. The firm’s 50-day simple moving average is C$24.01 and its two-hundred day simple moving average is C$22.40. The firm has a market cap of C$494.63 million, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

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

Insider Buying and Selling at AutoCanada

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. Insiders acquired 34,650 shares of company stock worth $885,855 in the last 90 days. 4.70% of the stock is owned by company 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.