AutoCanada Inc. (TSE:ACQ) Receives C$23.00 Average Target Price from Analysts

Shares of AutoCanada Inc. (TSE:ACQ) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$23.00.

A number of brokerages have commented on ACQ. ATB Capital cut shares of AutoCanada from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$62.00 to C$25.00 in a research report on Friday, May 3rd. Acumen Capital cut shares of AutoCanada from a “speculative buy” rating to a “hold” rating and reduced their price target for the company from C$24.50 to C$21.50 in a research report on Friday, May 3rd. CIBC cut shares of AutoCanada from a “neutral” rating to an “underperform” rating and reduced their price target for the company from C$25.00 to C$18.00 in a research report on Friday, May 3rd. National Bankshares reduced 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 research report on Friday, May 3rd. Finally, Atb Cap Markets cut shares of AutoCanada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 3rd.

AutoCanada Stock Up 0.6 %

ACQ stock opened at C$19.57 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.25 and a debt-to-equity ratio of 408.35. The company’s 50 day moving average is C$21.17 and its 200 day moving average is C$22.20. The stock has a market cap of C$459.31 million, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.30 and a beta of 2.65. AutoCanada has a 1-year low of C$17.76 and a 1-year high of C$27.54.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C$0.21 earnings per share for the quarter, missing the consensus estimate of C$0.40 by C($0.19). AutoCanada had a return on equity of 8.15% and a net margin of 0.64%. The company had revenue of C$1.42 billion during the quarter, compared to the consensus estimate of C$1.49 billion. Sell-side analysts predict that AutoCanada will post 1.7074165 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was bought at an average price of C$23.83 per share, with a total value of C$33,362.00. Insiders acquired 12,700 shares of company stock valued at $290,195 over the last quarter. 4.73% of the stock is owned by company insiders.

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.