AutoCanada (TSE:ACQ) Price Target Cut to C$21.00 by Analysts at ATB Cormark Capital Markets

AutoCanada (TSE:ACQ) had its price target lowered by equities research analysts at ATB Cormark Capital Markets from C$22.00 to C$21.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ target price would suggest a potential upside of 0.91% from the stock’s current price.

Several other research analysts have also recently issued reports on ACQ. Canadian Imperial Bank of Commerce cut shares of AutoCanada from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$34.00 to C$20.00 in a report on Friday, March 20th. Canaccord Genuity Group cut shares of AutoCanada from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$42.00 to C$22.00 in a report on Thursday, March 19th. Royal Bank Of Canada cut their price objective on shares of AutoCanada from C$28.00 to C$18.00 in a report on Thursday, March 19th. National Bank Financial cut their price objective on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a report on Wednesday, April 8th. Finally, Acumen Capital lifted their price objective on shares of AutoCanada from C$25.00 to C$27.00 and gave the company a “speculative buy” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$22.00.

AutoCanada Stock Performance

Shares of TSE ACQ traded down C$0.66 during mid-day trading on Tuesday, hitting C$20.81. The stock had a trading volume of 34,187 shares, compared to its average volume of 66,690. The company has a debt-to-equity ratio of 448.50, a quick ratio of 0.25 and a current ratio of 1.07. The company has a 50 day moving average of C$21.05 and a two-hundred day moving average of C$23.25. AutoCanada has a twelve month low of C$14.00 and a twelve month high of C$35.48. The firm has a market cap of C$479.28 million, a PE ratio of 20.01, a PEG ratio of 0.30 and a beta of 1.85.

AutoCanada (TSE:ACQ) last issued its earnings results on Wednesday, May 13th. The company reported C$0.21 earnings per share (EPS) for the quarter. AutoCanada had a net margin of 0.51% and a return on equity of 5.29%. The firm had revenue of C$1.19 billion during the quarter. Research analysts predict that AutoCanada will post 2.4311927 EPS 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.