Canaccord Genuity Group Downgrades AutoCanada (TSE:ACQ) to Hold

AutoCanada (TSE:ACQ) was downgraded by investment analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Thursday,BayStreet.CA reports. They currently have a C$22.00 price target on the stock, down from their previous price target of C$42.00. Canaccord Genuity Group’s price target points to a potential upside of 29.41% from the stock’s previous close.

ACQ has been the subject of a number of other reports. Canadian Imperial Bank of Commerce lifted their price objective on shares of AutoCanada from C$30.00 to C$34.00 in a report on Thursday, February 5th. Royal Bank Of Canada lowered their target price on shares of AutoCanada from C$28.00 to C$18.00 in a report on Thursday. Acumen Capital lifted their price target on AutoCanada from C$35.50 to C$39.25 and gave the company a “speculative buy” rating in a research note on Tuesday, January 27th. ATB Cormark Capital Markets decreased their price objective on AutoCanada from C$25.00 to C$22.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, National Bank Financial lowered their price objective on AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$28.46.

AutoCanada Stock Down 15.0%

Shares of TSE:ACQ traded down C$3.01 during trading on Thursday, reaching C$17.00. 336,948 shares of the stock were exchanged, compared to its average volume of 64,532. AutoCanada has a 1-year low of C$14.00 and a 1-year high of C$35.48. The stock has a fifty day moving average of C$25.77 and a two-hundred day moving average of C$26.26. The company has a debt-to-equity ratio of 376.45, a current ratio of 1.09 and a quick ratio of 0.25. The firm has a market cap of C$392.68 million, a price-to-earnings ratio of -42.50, a price-to-earnings-growth ratio of 0.30 and a beta of 1.76.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results on Wednesday, March 18th. The company reported C($0.06) EPS for the quarter. AutoCanada had a negative net margin of 0.18% and a negative return on equity of 1.67%. The business had revenue of C$1.12 billion for the quarter. Research analysts anticipate that AutoCanada will post 2.4311927 earnings per share for the current fiscal year.

About AutoCanada

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.