AutoCanada (ACQ) PT Lowered to C$17.00 at Royal Bank of Canada

AutoCanada (TSE:ACQ) had its price objective lowered by Royal Bank of Canada from C$18.00 to C$17.00 in a research report released on Tuesday. The firm currently has an outperform rating on the stock.

Several other research firms have also weighed in on ACQ. Clarus Securities reiterated a buy rating on shares of AutoCanada in a report on Friday, August 3rd. Cormark increased their target price on shares of AutoCanada from C$9.00 to C$10.75 in a report on Wednesday, September 26th. National Bank Financial lowered shares of AutoCanada from an outperform rating to a sector perform rating and cut their target price for the stock from C$23.50 to C$15.00 in a report on Friday, August 10th. AltaCorp Capital lowered shares of AutoCanada from an outperform rating to a sector perform rating in a report on Monday, August 13th. Finally, Canaccord Genuity lowered shares of AutoCanada from a buy rating to a hold rating and cut their target price for the stock from C$27.00 to C$11.00 in a report on Monday, August 13th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of C$17.21.

Shares of TSE ACQ opened at C$9.83 on Tuesday. AutoCanada has a fifty-two week low of C$9.61 and a fifty-two week high of C$25.25.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Thursday, August 9th. The company reported C$0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.59 by C($0.04). The company had revenue of C$880.59 million for the quarter, compared to analyst estimates of C$963.32 million.

In related news, Director Dennis Stephan Desrosiers acquired 10,000 shares of the stock in a transaction dated Friday, August 17th. The stock was bought at an average price of C$11.23 per share, with a total value of C$112,300.00. Also, Director Maryann Natalie Keller acquired 3,000 shares of the stock in a transaction dated Monday, August 20th. The shares were bought at an average cost of C$8.71 per share, with a total value of C$26,130.00. Insiders have bought 137,175 shares of company stock valued at $1,701,362 in the last three months.

AutoCanada Company Profile

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. 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, vehicle protection products, and other after-market products.

Further Reading: Google Finance Portfolio Workaround

Analyst Recommendations for AutoCanada (TSE:ACQ)

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