CIBC Increases AutoCanada (TSE:ACQ) Price Target to C$25.00

AutoCanada (TSE:ACQ) had its price target increased by research analysts at CIBC from C$22.00 to C$25.00 in a research note issued on Friday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price objective points to a potential upside of 3.52% from the company’s previous close.

Several other research analysts also recently commented on ACQ. BMO Capital Markets decreased their price objective on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a report on Friday, March 8th. 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. Canaccord Genuity Group reduced their price target on AutoCanada from C$22.00 to C$20.00 and set a “hold” rating on the stock in a report on Friday, March 8th. Scotiabank boosted their price target on AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Finally, Acumen Capital reduced their price target on AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating on the stock in a report on Friday, March 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, AutoCanada currently has a consensus rating of “Hold” and an average target price of C$27.95.

AutoCanada Trading Down 0.7 %

Shares of ACQ stock opened at C$24.15 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. The business has a 50-day moving average price of C$23.60 and a two-hundred day moving average price of C$22.52. AutoCanada has a 12-month low of C$15.14 and a 12-month high of C$27.54. The firm has a market cap of C$570.18 million, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last released its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, topping the consensus estimate of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion for 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%. Equities analysts anticipate that AutoCanada will post 3.0424469 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. purchased 21,200 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were purchased at an average cost of C$26.64 per share, with a total value of C$564,865.52. In the last quarter, insiders have bought 29,650 shares of company stock worth $766,165. Company insiders own 4.70% of the company’s stock.

AutoCanada Company Profile

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.