AutoCanada (TSE:ACQ) Downgraded to Sector Perform at Atb Cap Markets

AutoCanada (TSE:ACQ) was downgraded by analysts at Atb Cap Markets from an “outperform” rating to a “sector perform” rating in a report released on Friday, Zacks.com reports.

Several other equities analysts have also commented on the company. BMO Capital Markets lowered their target price on AutoCanada from C$23.00 to C$21.00 in a report on Monday. Acumen Capital downgraded AutoCanada from a “speculative buy” rating to a “hold” rating and reduced their price objective for the stock from C$24.50 to C$21.50 in a research report on Friday. Scotiabank reduced their price objective on AutoCanada from C$28.00 to C$25.50 and set an “outperform” rating for the company in a research report on Monday. Cormark set a C$35.00 price objective on AutoCanada in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group reduced their price objective on AutoCanada from C$20.00 to C$18.00 and set a “hold” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$23.00.

AutoCanada Stock Up 3.5 %

TSE:ACQ opened at C$21.05 on Friday. The firm has a market capitalization of C$496.99 million, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The stock has a 50 day moving average of C$24.01 and a 200-day moving average of C$22.38. AutoCanada has a 52 week low of C$15.14 and a 52 week high of C$27.54. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 396.08.

AutoCanada (TSE:ACQ) last posted its earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The company had revenue of C$1.48 billion during the quarter, compared to analyst estimates of C$1.43 billion. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. Analysts predict that AutoCanada will post 3.0424469 EPS for the current year.

Insiders Place Their Bets

In other news, insider EdgePoint Investment Group Inc. bought 1,200 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was purchased at an average cost of C$23.95 per share, for a total transaction of C$28,740.00. Insiders bought 34,650 shares of company stock worth $885,855 over the last ninety days. 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.