Atb Cap Markets Predicts Increased Earnings for AutoCanada

AutoCanada Inc. (TSE:ACQ) – Stock analysts at Atb Cap Markets lifted their FY2024 earnings per share estimates for AutoCanada in a research note issued to investors on Thursday, November 14th. Atb Cap Markets analyst C. Murray now expects that the company will earn ($0.43) per share for the year, up from their prior forecast of ($0.98). The consensus estimate for AutoCanada’s current full-year earnings is $2.43 per share. Atb Cap Markets also issued estimates for AutoCanada’s Q4 2024 earnings at $0.04 EPS, Q2 2025 earnings at $0.42 EPS, Q4 2025 earnings at $0.40 EPS, FY2025 earnings at $1.51 EPS, Q2 2026 earnings at $0.50 EPS and FY2026 earnings at $1.82 EPS.

Several other research analysts also recently weighed in on the company. CIBC reduced their target price on AutoCanada from C$15.50 to C$15.00 in a research note on Friday, November 15th. National Bankshares upgraded AutoCanada from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$17.00 to C$21.00 in a report on Thursday, November 14th. ATB Capital decreased their target price on shares of AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. BMO Capital Markets cut their price objective on AutoCanada from C$19.50 to C$19.00 in a research report on Thursday, November 14th. Finally, Acumen Capital dropped their target price on shares of AutoCanada from C$21.50 to C$19.75 in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$19.44.

AutoCanada Price Performance

TSE:ACQ opened at C$18.64 on Monday. The company has a 50 day moving average price of C$15.73 and a 200-day moving average price of C$17.63. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25. AutoCanada has a 1-year low of C$13.75 and a 1-year high of C$27.44. The firm has a market cap of C$432.26 million, a price-to-earnings ratio of -11.87, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54.

Insiders Place Their Bets

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 27,200 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of C$15.47 per share, for a total transaction of C$420,900.96. Insiders bought 111,900 shares of company stock worth $1,670,917 in the last 90 days. Corporate insiders own 4.90% of the company’s stock.

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.