BMO Capital Markets Has Lowered Expectations for AutoCanada (TSE:ACQ) Stock Price

AutoCanada (TSE:ACQ) had its price objective decreased by equities research analysts at BMO Capital Markets from C$19.50 to C$19.00 in a research note issued to investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 0.53% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. ATB Capital cut their price target on AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. Royal Bank of Canada reduced their price target 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 target on AutoCanada from C$21.50 to C$19.75 in a report on Thursday, August 15th. Cormark reduced their price objective on shares of AutoCanada from C$25.50 to C$21.75 in a report on Wednesday, August 14th. Finally, Canaccord Genuity Group lowered their target price on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock 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’s stock. According to data from MarketBeat.com, AutoCanada currently has a consensus rating of “Hold” and a consensus price target of C$19.44.

AutoCanada Price Performance

TSE:ACQ opened at C$18.90 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. The stock has a 50 day moving average of C$15.56 and a 200-day moving average of C$17.74. The firm has a market capitalization of C$438.29 million, a PE ratio of -12.04, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. AutoCanada has a 52 week low of C$13.75 and a 52 week high of C$27.44.

AutoCanada (TSE:ACQ) last released its quarterly earnings data on Tuesday, August 13th. The company reported C($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). The firm had revenue of C$1.60 billion during the quarter, compared to analyst estimates of C$1.62 billion. AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. Analysts predict that AutoCanada will post 2.4311927 EPS for the current year.

Insider Buying and Selling

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 7,600 shares of the stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of C$14.33 per share, with a total value of C$108,939.16. In the last ninety days, insiders acquired 119,500 shares of company stock valued at $1,779,856. Corporate insiders own 4.90% of the company’s stock.

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.