Scotiabank Reaffirms “Sector Perform” Rating for AutoCanada Inc. (ACQ)

Scotiabank reiterated their sector perform rating on shares of AutoCanada Inc. (TSE:ACQ) in a research report report published on Thursday. They currently have a C$22.00 price target on the stock.

A number of other research firms have also recently weighed in on ACQ. Royal Bank of Canada cut AutoCanada from an outperform rating to a sector perform rating and increased their price target for the stock from C$24.00 to C$26.00 in a report on Thursday, February 2nd. AltaCorp Capital reiterated an outperform rating on shares of AutoCanada in a report on Monday, March 20th. Finally, CIBC lowered their price target on AutoCanada from C$22.00 to C$20.00 in a report on Monday, March 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. AutoCanada currently has a consensus rating of Hold and a consensus price target of C$21.25.

AutoCanada (TSE:ACQ) opened at 21.20 on Thursday. The firm has a 50-day moving average price of $23.62 and a 200 day moving average price of $23.12. AutoCanada has a 1-year low of $16.10 and a 1-year high of $27.90. The stock has a market cap of $579.95 million and a price-to-earnings ratio of 235.56.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, February 24th.

In other AutoCanada news, Director Barry Lee James purchased 1,895 shares of the stock in a transaction dated Wednesday, March 22nd. The stock was acquired at an average cost of C$21.10 per share, for a total transaction of C$39,984.50.

AutoCanada Company Profile

AutoCanada Inc (AutoCanada) is a Canada-based multi-location automobile dealership company. The Company offers a diversified range of automotive products and services, including new vehicles, 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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