AutoCanada (ACQ) Stock Rating Lowered by National Bank Financial

AutoCanada (TSE:ACQ) was downgraded by equities researchers at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Friday. They presently have a C$15.00 target price on the stock, down from their previous target price of C$23.50. National Bank Financial’s price objective points to a potential upside of 39.53% from the stock’s previous close.

Other analysts also recently issued reports about the company. Clarus Securities reaffirmed a “buy” rating on shares of AutoCanada in a research report on Friday, August 3rd. Cormark downgraded AutoCanada from a “buy” rating to a “market perform” rating and decreased their price target for the company from C$29.00 to C$19.00 in a research report on Wednesday, June 6th. Royal Bank of Canada decreased their price target on AutoCanada to C$30.00 and set an “outperform” rating for the company in a research report on Monday, May 7th. CIBC downgraded AutoCanada from an “outperform” rating to an “outperform ? neutral” rating and set a C$27.00 price target for the company. in a research report on Monday, May 7th. Finally, Scotiabank reissued a “sector perform” rating and set a C$22.50 price objective on shares of AutoCanada in a report on Tuesday, June 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$22.58.

Shares of ACQ opened at C$10.75 on Friday. AutoCanada has a 12 month low of C$10.65 and a 12 month high of C$26.11.

In other news, insider Steven Landry acquired 4,000 shares of AutoCanada stock in a transaction on Friday, June 8th. The stock was acquired at an average cost of C$16.34 per share, with a total value of C$65,360.00.

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.

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Analyst Recommendations for AutoCanada (TSE:ACQ)

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