Acumen Capital cut shares of AutoCanada (TSE:ACQ – Free Report) from a speculative buy rating to a hold rating in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has C$21.50 price target on the stock, down from their previous price target of C$24.50.
A number of other equities analysts have also weighed in on ACQ. Cormark set a C$35.00 target price on shares of AutoCanada in a research note on Tuesday, March 19th. Scotiabank raised their price objective on AutoCanada from C$26.00 to C$28.00 and gave the company an outperform rating in a research report on Friday, March 8th. Canaccord Genuity Group decreased their target price on AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a research report on Friday. CIBC raised their price target on AutoCanada from C$22.00 to C$25.00 and gave the company a neutral rating in a report on Friday, April 19th. Finally, National Bankshares decreased their price objective on AutoCanada from C$24.50 to C$22.00 and set a sector perform rating on the stock in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of C$23.00.
View Our Latest Research Report on AutoCanada
AutoCanada Price Performance
AutoCanada (TSE:ACQ – Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 EPS 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 company had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. As a group, analysts expect that AutoCanada will post 3.0424469 earnings per share for the current fiscal year.
Insider Activity
In related news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were purchased at an average price of C$26.64 per share, with a total value of C$564,865.52. Insiders purchased 34,650 shares of company stock valued at $885,855 in the last ninety days. Insiders own 4.70% 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.
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