AutoCanada (TSE:ACQ – Free Report) had its price objective lowered by Canaccord Genuity Group from C$20.00 to C$18.00 in a research note released on Friday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.
Several other analysts have also recently issued reports on ACQ. National Bankshares reduced their price objective on AutoCanada from C$24.50 to C$22.00 and set a sector perform rating on the stock in a research note on Friday, March 8th. Cormark set a C$35.00 price target on AutoCanada in a research report on Tuesday, March 19th. Scotiabank boosted their price objective on AutoCanada from C$26.00 to C$28.00 and gave the stock an outperform rating in a research report on Friday, March 8th. Acumen Capital reduced their target price on shares of AutoCanada from C$33.00 to C$24.50 and set a speculative buy rating on the stock in a report on Friday, March 8th. Finally, BMO Capital Markets lowered their price target on shares of AutoCanada from C$24.00 to C$23.00 and set a market perform rating for the company in a report on Friday, March 8th. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of C$23.50.
Read Our Latest Stock Report on ACQ
AutoCanada Price Performance
AutoCanada (TSE:ACQ – Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (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 company had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. As a group, sell-side analysts expect that AutoCanada will post 3.0424469 earnings per share for the current year.
Insider Activity
In other news, insider EdgePoint Investment Group Inc. acquired 4,700 shares of the company’s stock in a transaction on Friday, April 12th. The shares were bought at an average price of C$23.75 per share, with a total value of C$111,604.79. In the last quarter, insiders purchased 34,650 shares of company stock worth $885,855. Corporate 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.
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