AutoCanada (TSE:ACQ) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report issued on Friday. They currently have a C$15.00 price target on the stock, down from their prior price target of C$23.50. National Bank Financial’s target price suggests a potential upside of 40.06% from the company’s previous close.
Other research analysts have also issued reports about the stock. Clarus Securities reaffirmed a “buy” rating on shares of AutoCanada in a research note on Friday, August 3rd. Cormark lowered shares of AutoCanada from a “buy” rating to a “market perform” rating and dropped their price objective for the stock from C$29.00 to C$19.00 in a research note on Wednesday, June 6th. CIBC lowered shares of AutoCanada from an “outperform” rating to an “outperform ? neutral” rating and set a C$27.00 price objective for the company. in a research note on Monday, May 7th. Royal Bank of Canada dropped their price objective on shares of AutoCanada to C$30.00 and set an “outperform” rating for the company in a research note on Monday, May 7th. Finally, Scotiabank dropped their price objective on shares of AutoCanada from C$27.50 to C$22.50 and set a “sector perform” rating for the company in a research note on Monday, May 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$22.58.
TSE ACQ traded down C$4.00 on Friday, hitting C$10.71. 3,681,453 shares of the stock were exchanged, compared to its average volume of 162,787. AutoCanada has a 52-week low of C$10.70 and a 52-week high of C$26.11.
In other news, insider Steven Landry acquired 4,000 shares of the company’s stock in a transaction on Friday, June 8th. The stock was bought at an average cost of C$16.34 per share, with a total value of C$65,360.00.
AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. 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, extended service contracts, vehicle protection products, and other after-market products.
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