AutoCanada (TSE:ACQ – Get Free Report) had its price target decreased by research analysts at BMO Capital Markets from C$23.00 to C$21.00 in a research note issued on Monday, BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 0.24% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on the stock. Acumen Capital cut shares of AutoCanada from a “speculative buy” rating to a “hold” rating and cut their price objective for the company from C$24.50 to C$21.50 in a research note on Friday. Cormark set a C$35.00 price objective on shares of AutoCanada in a report on Tuesday, March 19th. Scotiabank upped their target price 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. Canaccord Genuity Group lowered their price target on AutoCanada from C$20.00 to C$18.00 and set a “hold” rating on the stock in a research report on Friday. Finally, ATB Capital lowered AutoCanada from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$62.00 to C$25.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$23.00.
Get Our Latest Stock Report on ACQ
AutoCanada Stock Performance
AutoCanada (TSE:ACQ – Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, topping 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 business had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. On average, research analysts anticipate that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.
Insider Activity
In other news, insider EdgePoint Investment Group Inc. acquired 21,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average price of C$26.64 per share, with a total value of C$564,865.52. Insiders have bought 34,650 shares of company stock worth $885,855 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.
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