CIBC Has Lowered Expectations for AutoCanada (TSE:ACQ) Stock Price

AutoCanada (TSE:ACQ - Get Free Report) had its price target dropped by research analysts at CIBC from C$15.50 to C$15.00 in a research report issued on Friday,BayStreet.CA reports. CIBC's price objective suggests a potential downside of 20.63% from the company's previous close.

Several other research analysts have also recently weighed in on the company. Cormark lowered their target price on AutoCanada from C$25.50 to C$21.75 in a report on Wednesday, August 14th. Royal Bank of Canada dropped their target price on AutoCanada from C$21.00 to C$18.00 and set a "sector perform" rating for the company in a report on Wednesday, August 14th. National Bank Financial upgraded AutoCanada from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Canaccord Genuity Group cut their price objective on shares of AutoCanada from C$18.00 to C$15.00 and set a "hold" rating for the company in a research report on Wednesday, August 14th. Finally, Acumen Capital decreased their target price on shares of AutoCanada from C$21.50 to C$19.75 in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AutoCanada presently has a consensus rating of "Hold" and an average price target of C$19.44.

AutoCanada Price Performance

ACQ stock remained flat at C$18.90 during trading on Friday. The company had a trading volume of 48,600 shares, compared to its average volume of 47,896. AutoCanada has a 12 month low of C$13.75 and a 12 month high of C$27.44. The business's fifty day moving average price is C$15.56 and its 200-day moving average price is C$17.70. 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 stock has a market cap of C$438.29 million, a PE ratio of -12.04, a P/E/G ratio of 0.30 and a beta of 2.54.

AutoCanada (TSE:ACQ - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C($0.96) earnings per share for the quarter, missing the consensus estimate of C$0.34 by C($1.30). AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. The business had revenue of C$1.60 billion during the quarter, compared to analysts' expectations of C$1.62 billion. As a group, sell-side analysts expect that AutoCanada will post 2.4311927 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider EdgePoint Investment Group Inc. bought 27,200 shares of the company's stock in a transaction on Friday, September 20th. The stock was bought at an average cost of C$15.47 per share, with a total value of C$420,900.96. Insiders have bought 119,500 shares of company stock worth $1,779,856 over the last ninety days. Corporate insiders own 4.90% of the company's stock.

About AutoCanada

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.