Atb Cap Markets Lowers AutoCanada (TSE:ACQ) to Sector Perform

Atb Cap Markets lowered shares of AutoCanada (TSE:ACQ) from an outperform rating to a sector perform rating in a research report report published on Friday morning, Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Acumen Capital downgraded shares of AutoCanada from a speculative buy rating to a hold rating and lowered their target price for the company from C$24.50 to C$21.50 in a research note on Friday. Cormark set a C$35.00 price objective on AutoCanada in a research report on Tuesday, March 19th. BMO Capital Markets reduced their target price on AutoCanada from C$23.00 to C$21.00 in a research report on Monday. ATB Capital downgraded AutoCanada from an outperform rating to a sector perform rating and lowered their price target for the stock from C$62.00 to C$25.00 in a report on Friday. Finally, Canaccord Genuity Group cut their price objective on shares of AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of C$23.00.

AutoCanada Trading Up 3.5 %

ACQ opened at C$21.05 on Friday. AutoCanada has a 12 month low of C$15.14 and a 12 month high of C$27.54. The stock has a fifty day moving average price of C$24.01 and a 200-day moving average price of C$22.38. The firm has a market cap of C$496.99 million, a price-to-earnings ratio of 10.22, a PEG ratio of 0.30 and a beta of 2.60. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 396.08.

AutoCanada (TSE:ACQ) last announced its earnings results on Thursday, March 7th. The company reported C$0.69 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 business had revenue of C$1.48 billion during the quarter, compared to the consensus estimate of C$1.43 billion. As a group, equities research analysts anticipate that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.

Insider Activity at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 3,750 shares of AutoCanada stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of C$23.92 per share, with a total value of C$89,694.38. Insiders have bought a total of 34,650 shares of company stock worth $885,855 over the last quarter. Insiders own 4.70% of the company’s stock.

AutoCanada Company Profile

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.