AutoCanada (TSE:ACQ) Price Target Cut to C$21.00 by Analysts at ATB Cormark Capital Markets

AutoCanada (TSE:ACQ) had its price objective dropped by ATB Cormark Capital Markets from C$22.00 to C$21.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ target price would indicate a potential upside of 0.91% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Royal Bank Of Canada lowered their price target on shares of AutoCanada from C$28.00 to C$18.00 in a research report on Thursday, March 19th. Canaccord Genuity Group lowered shares of AutoCanada from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$42.00 to C$22.00 in a research report on Thursday, March 19th. Acumen Capital boosted their price target on shares of AutoCanada from C$25.00 to C$27.00 and gave the stock a “speculative buy” rating in a research report on Thursday, May 14th. National Bank Financial lowered their price target on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 8th. Finally, BMO Capital Markets lowered their price target on shares of AutoCanada from C$36.00 to C$24.00 in a research report on Friday, March 20th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$22.00.

AutoCanada Price Performance

ACQ traded down C$0.66 on Tuesday, hitting C$20.81. 34,187 shares of the company’s stock were exchanged, compared to its average volume of 66,690. AutoCanada has a fifty-two week low of C$14.00 and a fifty-two week high of C$35.48. The stock has a market cap of C$479.28 million, a price-to-earnings ratio of 20.01, a P/E/G ratio of 0.30 and a beta of 1.85. The firm has a 50-day moving average price of C$21.05 and a 200-day moving average price of C$23.25. The company has a current ratio of 1.07, a quick ratio of 0.25 and a debt-to-equity ratio of 448.50.

AutoCanada (TSE:ACQ) last issued its earnings results on Wednesday, May 13th. The company reported C$0.21 EPS for the quarter. The business had revenue of C$1.19 billion during the quarter. AutoCanada had a net margin of 0.51% and a return on equity of 5.29%. As a group, equities analysts anticipate that AutoCanada will post 2.4311927 earnings per share for the current 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.