AutoCanada Inc. (TSE:ACQ) Receives C$23.50 Consensus Price Target from Brokerages

Shares of AutoCanada Inc. (TSE:ACQ) have received a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$23.00.

ACQ has been the topic of several research analyst reports. ATB Capital cut shares of AutoCanada from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$62.00 to C$25.00 in a research report on Friday, May 3rd. CIBC cut shares of AutoCanada from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from C$25.00 to C$18.00 in a research report on Friday, May 3rd. Acumen Capital cut shares of AutoCanada from a “speculative buy” rating to a “hold” rating and lowered their price objective for the stock from C$24.50 to C$21.50 in a research report on Friday, May 3rd. BMO Capital Markets lowered their price target on shares of AutoCanada from C$23.00 to C$21.00 in a report on Monday. Finally, National Bankshares lowered their price target on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a report on Friday, May 3rd.

Insider Activity

In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 1,200 shares of AutoCanada stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average price of C$23.95 per share, with a total value of C$28,740.00. Insiders have purchased a total of 34,650 shares of company stock worth $885,855 in the last ninety days. Corporate insiders own 4.70% of the company’s stock.

AutoCanada Trading Down 0.2 %

AutoCanada stock opened at C$21.00 on Monday. AutoCanada has a 52 week low of C$15.14 and a 52 week high of C$27.54. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. The firm has a market capitalization of C$495.81 million, a price-to-earnings ratio of 10.19, a P/E/G ratio of 0.30 and a beta of 2.60. The company has a 50 day moving average price of C$24.00 and a 200 day moving average price of C$22.35.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, topping the consensus estimate of C$0.56 by C$0.13. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. The firm had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. Research analysts forecast that AutoCanada will post 3.0424469 EPS for the current year.

About AutoCanada

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.