AutoCanada (TSE:ACQ) Price Target Lowered to C$15.00 at CIBC

AutoCanada (TSE:ACQ) had its target price reduced by analysts at CIBC from C$15.50 to C$15.00 in a report released on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential downside of 19.83% from the company’s previous close.

ACQ has been the topic of several other research reports. National Bank Financial raised AutoCanada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. ATB Capital decreased their price target on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. BMO Capital Markets cut their price objective on AutoCanada from C$19.50 to C$19.00 in a research report on Thursday. Acumen Capital cut their price objective on AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. Finally, Cormark cut their price objective on AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$19.44.

AutoCanada Stock Performance

ACQ traded down C$0.19 during trading on Friday, reaching C$18.71. The company’s stock had a trading volume of 24,928 shares, compared to its average volume of 47,790. AutoCanada has a 52-week low of C$13.75 and a 52-week high of C$27.44. The company’s fifty day moving average price is C$15.47 and its 200-day moving average price is C$17.78. The company has a market capitalization of C$433.88 million, a price-to-earnings ratio of -11.92, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results on Tuesday, August 13th. The company reported C($0.96) EPS for the quarter, missing the consensus estimate of C$0.34 by C($1.30). The firm had revenue of C$1.60 billion for the quarter, compared to analysts’ expectations of C$1.62 billion. AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. On average, equities analysts forecast that AutoCanada will post 2.4311927 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider EdgePoint Investment Group Inc. acquired 18,200 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was bought at an average cost of C$14.88 per share, with a total value of C$270,901.54. In the last three months, insiders acquired 119,500 shares of company stock valued at $1,779,856. Company insiders own 4.90% of the company’s stock.

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.