BMO Capital Markets Cuts AutoCanada (TSE:ACQ) Price Target to C$19.00

AutoCanada (TSE:ACQ) had its price objective trimmed by BMO Capital Markets from C$19.50 to C$19.00 in a research report report published on Thursday morning,BayStreet.CA reports.

A number of other analysts have also issued reports on the company. CIBC dropped their target price on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating on the stock in a research report on Wednesday, August 14th. National Bankshares raised AutoCanada from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$17.00 to C$21.00 in a research report on Thursday. Cormark decreased their price target on shares of AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. Acumen Capital dropped their price target on shares of AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. Finally, Royal Bank of Canada reduced their price objective on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoCanada presently has an average rating of “Hold” and an average target price of C$19.44.

AutoCanada Stock Performance

AutoCanada stock opened at C$18.90 on Thursday. AutoCanada has a 12-month low of C$13.75 and a 12-month high of C$27.44. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25. The company has a market capitalization of C$438.29 million, a price-to-earnings ratio of -12.04, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The firm’s fifty day moving average price is C$15.56 and its 200 day moving average price is C$17.70.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. bought 18,200 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average cost of C$14.88 per share, with a total value of C$270,901.54. Insiders acquired a total of 119,500 shares of company stock valued at $1,779,856 over the last 90 days. 4.90% of the stock is owned by company 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.