AutoCanada (TSE:ACQ – Free Report) had its target price cut by Scotiabank from C$28.00 to C$25.50 in a research report released on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.
Several other analysts also recently commented on the stock. Canaccord Genuity Group dropped their price objective on shares of AutoCanada from C$20.00 to C$18.00 and set a hold rating on the stock in a report on Friday. Royal Bank of Canada cut their price target on AutoCanada from C$22.00 to C$21.00 and set a sector perform rating on the stock in a research report on Friday. Acumen Capital cut AutoCanada from a speculative buy rating to a hold rating and decreased their price objective for the company from C$24.50 to C$21.50 in a report on Friday. Cormark set a C$35.00 target price on AutoCanada in a report on Tuesday, March 19th. Finally, BMO Capital Markets decreased their target price on shares of AutoCanada from C$23.00 to C$21.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of C$23.00.
Read Our Latest Stock Report on ACQ
AutoCanada Stock Performance
AutoCanada (TSE:ACQ – Get Free Report) last released its 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 firm had revenue of C$1.48 billion during the quarter, compared to the consensus estimate of C$1.43 billion. As a group, research analysts expect that AutoCanada will post 3.0424469 earnings per share for the current year.
Insider Buying and Selling
In other news, insider EdgePoint Investment Group Inc. acquired 21,200 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were bought at an average price of C$26.64 per share, for a total transaction of C$564,865.52. Over the last ninety days, insiders bought 34,650 shares of company stock worth $885,855. 4.70% of the stock is owned by corporate insiders.
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.
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