AutoCanada (TSE:ACQ) Price Target Cut to C$23.00

AutoCanada (TSE:ACQ) had its price target lowered by equities researchers at BMO Capital Markets from C$24.00 to C$23.00 in a report released on Friday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 7.63% from the stock’s current price.

Several other equities analysts have also issued reports on ACQ. CIBC dropped their price objective on AutoCanada from C$22.50 to C$22.00 and set a “neutral” rating on the stock in a report on Friday. National Bankshares dropped their price objective on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating on the stock in a report on Friday. Canaccord Genuity Group dropped their price objective on AutoCanada from C$22.00 to C$20.00 and set a “hold” rating on the stock in a report on Friday. Scotiabank dropped their price objective on AutoCanada from C$35.00 to C$26.00 and set a “sector perform” rating on the stock in a report on Monday, November 13th. Finally, Acumen Capital raised their price objective on AutoCanada from C$32.00 to C$33.00 and gave the stock a “speculative buy” rating in a report on Monday, November 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, AutoCanada currently has a consensus rating of “Hold” and an average price target of C$27.10.

AutoCanada Stock Up 2.2 %

AutoCanada stock traded up C$0.45 during midday trading on Friday, reaching C$21.37. The company’s stock had a trading volume of 63,556 shares, compared to its average volume of 28,779. AutoCanada has a fifty-two week low of C$15.14 and a fifty-two week high of C$27.54. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 373.62. The company has a market cap of C$504.55 million, a P/E ratio of 6.40, a P/E/G ratio of 0.30 and a beta of 2.62. The business has a 50-day simple moving average of C$21.86 and a 200-day simple moving average of C$22.60.

About AutoCanada

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships. 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, extended service contracts, and vehicle protection, after-market products, and auction services.