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

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

Several other equities research analysts have also recently weighed in on ACQ. Canaccord Genuity Group reduced their target price on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Cormark cut their price target on AutoCanada from C$25.50 to C$21.75 in a report on Wednesday, August 14th. Acumen Capital decreased their price objective on AutoCanada from C$21.50 to C$19.75 in a report on Thursday, August 15th. Royal Bank of Canada lowered their price objective on AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Finally, CIBC reduced their target price on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a research report on Wednesday, August 14th. One 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 stock. According to MarketBeat.com, AutoCanada has an average rating of “Hold” and a consensus price target of C$19.44.

AutoCanada Price Performance

Shares of TSE:ACQ opened at C$18.90 on Thursday. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38. The business has a 50 day moving average price of C$15.56 and a 200 day moving average price of C$17.65. The company has a market cap of C$438.29 million, a price-to-earnings ratio of -12.04, a PEG ratio of 0.30 and a beta of 2.54. AutoCanada has a twelve month low of C$13.75 and a twelve month high of C$27.44.

Insider Buying and Selling at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 18,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of C$14.88 per share, for a total transaction of C$270,901.54. Over the last three months, insiders purchased 119,500 shares of company stock valued at $1,779,856. 4.90% of the stock is currently 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.