AutoCanada (TSE:ACQ) Price Target Increased to C$25.00 by Analysts at CIBC

AutoCanada (TSE:ACQ) had its price objective hoisted by CIBC from C$22.00 to C$25.00 in a research note published on Friday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group reduced their price objective on shares of AutoCanada from C$22.00 to C$20.00 and set a hold rating for the company in a research report on Friday, March 8th. BMO Capital Markets reduced their price objective on shares of AutoCanada from C$24.00 to C$23.00 and set a market perform rating for the company in a research report on Friday, March 8th. Scotiabank increased their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the company 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 for the company in a research report on Friday, March 8th. Finally, Cormark set a C$35.00 target price on shares of AutoCanada in a research report on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of C$27.95.

AutoCanada Stock Performance

Shares of TSE ACQ opened at C$24.15 on Friday. The company’s fifty day moving average price is C$23.60 and its 200 day moving average price is C$22.52. AutoCanada has a 1 year low of C$15.14 and a 1 year high of C$27.54. The company has a market capitalization of C$570.18 million, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04.

AutoCanada (TSE:ACQ) last announced 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 firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. On average, research analysts predict that AutoCanada will post 3.0424469 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. bought 4,700 shares of the stock in a transaction on Friday, April 12th. The stock was bought at an average price of C$23.75 per share, with a total value of C$111,604.79. Insiders purchased a total of 29,650 shares of company stock valued at $766,165 over the last 90 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.