CIBC Lowers AutoCanada (TSE:ACQ) Price Target to C$15.00

AutoCanada (TSE:ACQ) had its price objective dropped by stock analysts at CIBC from C$15.50 to C$15.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price points to a potential downside of 20.63% from the company’s previous close.

Several other analysts have also weighed in on the stock. Canaccord Genuity Group lowered 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. Acumen Capital decreased their target price on AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. BMO Capital Markets cut their price target on AutoCanada from C$19.50 to C$19.00 in a report on Thursday. ATB Capital dropped their target price on AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. Finally, National Bank Financial raised shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$19.44.

AutoCanada Stock Performance

ACQ opened at C$18.90 on Friday. 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 stock has a market capitalization 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. 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 other news, insider EdgePoint Investment Group Inc. bought 18,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of C$14.88 per share, with a total value of C$270,901.54. In the last three months, insiders have purchased 119,500 shares of company stock worth $1,779,856. 4.90% of the stock is owned by corporate insiders.

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.