CIBC Issues Pessimistic Forecast for AutoCanada (TSE:ACQ) Stock Price

AutoCanada (TSE:ACQ) had its price target cut by research analysts at CIBC from C$17.00 to C$15.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “underperform” rating on the stock. CIBC’s price target would indicate a potential downside of 14.38% from the stock’s current price.

Separately, Canaccord Genuity Group raised their target price on shares of AutoCanada from C$17.00 to C$22.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$19.98.

AutoCanada Stock Down 3.2 %

AutoCanada stock opened at C$17.52 on Thursday. The company has a market cap of C$407.72 million, a P/E ratio of -8.08, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. AutoCanada has a 1-year low of C$13.75 and a 1-year high of C$27.44. The company has a fifty day simple moving average of C$17.93 and a 200 day simple moving average of C$17.06. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54.

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.