AutoCanada (TSE:ACQ) Rating Lowered to Underperform at CIBC

AutoCanada (TSE:ACQ) was downgraded by equities researchers at CIBC from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday, BayStreet.CA reports. They currently have a C$18.00 target price on the stock, down from their previous target price of C$25.00. CIBC’s price objective would suggest a potential downside of 11.46% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group cut their price target 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. Scotiabank upped their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Cormark set a C$35.00 price target on shares of AutoCanada in a research note on Tuesday, March 19th. National Bankshares lowered their price target on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating for the company in a report on Friday, March 8th. Finally, BMO Capital Markets reduced their price objective on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a report on Friday, March 8th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$22.95.

AutoCanada Trading Down 1.2 %

ACQ opened at C$20.33 on Friday. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. The stock’s 50 day moving average price is C$24.01 and its 200-day moving average price is C$22.41. AutoCanada has a one year low of C$15.14 and a one year high of C$27.54. The stock has a market cap of C$479.99 million, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.56 by C$0.13. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. The company had revenue of C$1.48 billion during the quarter, compared to analysts’ expectations of C$1.43 billion. On average, equities analysts forecast that AutoCanada will post 3.0424469 EPS for the current year.

Insider Activity at AutoCanada

In related news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the stock in a transaction on 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. Insiders have acquired a total of 34,650 shares of company stock valued at $885,855 over the last ninety days. 4.70% of the stock is owned by company insiders.

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.