ATB Capital lowered shares of AutoCanada (TSE:ACQ – Free Report) from an outperform rating to a sector perform rating in a research note published on Friday morning, BayStreet.CA reports. ATB Capital currently has C$25.00 target price on the stock, down from their previous target price of C$62.00.
A number of other analysts have also recently issued reports on the company. Acumen Capital cut AutoCanada from a speculative buy rating to a hold rating and lowered their price objective for the company from C$24.50 to C$21.50 in a research report on Friday. Canaccord Genuity Group dropped their price objective on AutoCanada from C$20.00 to C$18.00 and set a hold rating for the company in a research note on Friday. Cormark set a C$35.00 target price on shares of AutoCanada in a research note on Tuesday, March 19th. National Bankshares dropped their target price on shares of AutoCanada from C$24.50 to C$22.00 and set a sector perform rating for the company in a research report on Friday, March 8th. Finally, CIBC cut shares of AutoCanada from a neutral rating to an underperform rating and cut their target price for the company from C$25.00 to C$18.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of C$23.00.
Get Our Latest Stock Report on AutoCanada
AutoCanada Price Performance
AutoCanada (TSE:ACQ – Get Free Report) last released its quarterly 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. The company had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. On average, equities research analysts predict that AutoCanada will post 3.0424469 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was bought at an average price of C$26.64 per share, for a total transaction of C$564,865.52. In the last quarter, insiders have bought 34,650 shares of company stock valued at $885,855. 4.70% of the stock is currently 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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