Canaccord Genuity Group Cuts AutoCanada (TSE:ACQ) Price Target to C$18.00

AutoCanada (TSE:ACQ) had its price objective decreased by Canaccord Genuity Group from C$20.00 to C$18.00 in a research note issued to investors on Friday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other equities analysts have also issued reports on the stock. National Bankshares dropped their target price on shares of AutoCanada from C$24.50 to C$22.00 and set a sector perform rating on the stock in a research report on Friday, March 8th. CIBC upped their price objective on shares of AutoCanada from C$22.00 to C$25.00 and gave the company a neutral rating in a research report on Friday, April 19th. BMO Capital Markets decreased their target price on AutoCanada from C$24.00 to C$23.00 and set a market perform rating on the stock in a research report on Friday, March 8th. Acumen Capital cut their price target on AutoCanada from C$33.00 to C$24.50 and set a speculative buy rating for the company in a report on Friday, March 8th. Finally, Cormark set a C$35.00 price objective on AutoCanada in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, AutoCanada presently has an average rating of Hold and an average target price of C$23.00.

AutoCanada Stock Up 3.5 %

AutoCanada stock opened at C$21.05 on Friday. The firm has a market cap of C$496.99 million, a price-to-earnings ratio of 10.22, a P/E/G ratio of 0.30 and a beta of 2.60. The firm has a fifty day moving average price of C$24.01 and a two-hundred day moving average price of C$22.38. AutoCanada has a fifty-two week low of C$15.14 and a fifty-two week high of C$27.54. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25.

AutoCanada (TSE:ACQ) last announced its earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion during the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. As a group, analysts forecast that AutoCanada will post 3.0424469 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider EdgePoint Investment Group Inc. bought 21,200 shares of AutoCanada stock in a transaction dated Tuesday, March 19th. The shares were bought at an average price of C$26.64 per share, for a total transaction of C$564,865.52. Insiders purchased 34,650 shares of company stock worth $885,855 over the last three months. 4.70% of the stock is currently owned by corporate 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.