BMO Capital Markets Has Lowered Expectations for AutoCanada (TSE:ACQ) Stock Price

AutoCanada (TSE:ACQ) had its price target decreased by BMO Capital Markets from C$19.50 to C$19.00 in a report published on Thursday,BayStreet.CA reports.

A number of other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Cormark dropped their price target on shares of AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. ATB Capital decreased their price objective on shares of AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. Canaccord Genuity Group dropped their target price on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Finally, CIBC decreased their price target on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$19.44.

AutoCanada Stock Performance

Shares of TSE ACQ opened at C$18.90 on Thursday. AutoCanada has a 12-month low of C$13.75 and a 12-month high of C$27.44. The company has a market cap of C$438.29 million, a PE ratio of -12.04, a P/E/G ratio of 0.30 and a beta of 2.54. The stock has a 50 day simple moving average of C$15.56 and a 200-day simple moving average of C$17.65. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. bought 7,600 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of C$14.33 per share, for a total transaction of C$108,939.16. In the last ninety days, insiders acquired 119,500 shares of company stock worth $1,779,856. 4.90% of the stock is currently owned by company 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.