AutoCanada (TSE:ACQ) Cut to “Sector Perform” at National Bank Financial

AutoCanada (TSE:ACQ) was downgraded by equities researchers at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Thursday,BayStreet.CA reports. They presently have a C$24.00 price target on the stock, down from their prior price target of C$29.00. National Bank Financial’s price objective would suggest a potential upside of 41.18% from the company’s previous close.

ACQ has been the subject of a number of other research reports. ATB Cormark Capital Markets dropped their price target on shares of AutoCanada from C$25.00 to C$22.00 and set a “sector perform” rating for the company in a research note on Thursday. Canadian Imperial Bank of Commerce lifted their target price on AutoCanada from C$30.00 to C$34.00 in a research report on Thursday, February 5th. Acumen Capital increased their target price on shares of AutoCanada from C$35.50 to C$39.25 and gave the stock a “speculative buy” rating in a report on Tuesday, January 27th. Royal Bank Of Canada dropped their price objective on shares of AutoCanada from C$28.00 to C$18.00 in a research note on Thursday. Finally, Canaccord Genuity Group cut AutoCanada from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$42.00 to C$22.00 in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$28.46.

AutoCanada Stock Down 15.0%

Shares of AutoCanada stock traded down C$3.01 during trading hours on Thursday, hitting C$17.00. 336,948 shares of the company’s stock traded hands, compared to its average volume of 64,532. AutoCanada has a twelve month low of C$14.00 and a twelve month high of C$35.48. The company has a market cap of C$392.68 million, a PE ratio of -42.50, a PEG ratio of 0.30 and a beta of 1.76. The company has a quick ratio of 0.25, a current ratio of 1.09 and a debt-to-equity ratio of 376.45. The stock has a 50 day simple moving average of C$25.77 and a 200-day simple moving average of C$26.26.

AutoCanada (TSE:ACQ) last released its quarterly earnings results on Wednesday, March 18th. The company reported C($0.06) EPS for the quarter. The business had revenue of C$1.12 billion during the quarter. AutoCanada had a negative return on equity of 1.67% and a negative net margin of 0.18%. Equities research analysts anticipate that AutoCanada will post 2.4311927 earnings per share for the current fiscal year.

AutoCanada Company Profile

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.