AutoCanada (TSE:ACQ) Given New C$15.00 Price Target at CIBC

AutoCanada (TSE:ACQ) had its target price lowered by equities research analysts at CIBC from C$15.50 to C$15.00 in a report released on Friday,BayStreet.CA reports. CIBC’s price target suggests a potential downside of 20.63% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada decreased their price objective on AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Acumen Capital lowered their price objective on shares of AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. National Bank Financial upgraded shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. National Bankshares raised shares of AutoCanada from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$17.00 to C$21.00 in a research note on Thursday. Finally, ATB Capital dropped their price target on shares of AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$19.44.

AutoCanada Price Performance

ACQ opened at C$18.90 on Friday. The firm has a market capitalization of C$438.29 million, a P/E ratio of -12.04, a PEG ratio of 0.30 and a beta of 2.54. The stock has a fifty day moving average of C$15.56 and a 200-day moving average of C$17.70. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38. AutoCanada has a 12-month low of C$13.75 and a 12-month high of C$27.44.

Insider Transactions at AutoCanada

In related news, insider EdgePoint Investment Group Inc. bought 7,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of C$14.33 per share, with a total value of C$108,939.16. Insiders have acquired a total of 119,500 shares of company stock worth $1,779,856 in the last 90 days. 4.90% of the stock is owned by 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.