AutoCanada Inc. (TSE:ACQ) Receives Average Rating of “Hold” from Analysts

Shares of AutoCanada Inc. (TSE:ACQ) have earned an average rating of “Hold” from the nine brokerages that are covering the company, Marketbeat Ratings 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 1-year price objective among analysts that have issued a report on the stock in the last year is C$23.00.

Several equities research analysts recently weighed in on ACQ shares. ATB Capital downgraded shares of AutoCanada from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$62.00 to C$25.00 in a report on Friday, May 3rd. Canaccord Genuity Group reduced their price objective on shares of AutoCanada from C$20.00 to C$18.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Cormark set a C$35.00 price objective on shares of AutoCanada in a report on Tuesday, March 19th. BMO Capital Markets reduced their price objective on shares of AutoCanada from C$23.00 to C$21.00 in a report on Monday, May 6th. Finally, CIBC downgraded shares of AutoCanada from a “neutral” rating to an “underperform” rating and cut their price target for the company from C$25.00 to C$18.00 in a report on Friday, May 3rd.

AutoCanada Stock Down 1.7 %

AutoCanada stock opened at C$19.23 on Tuesday. The company has a 50-day simple moving average of C$20.96 and a 200-day simple moving average of C$22.24. The firm has a market capitalization of C$451.33 million, a P/E ratio of 11.73, a P/E/G ratio of 0.30 and a beta of 2.65. The company has a debt-to-equity ratio of 408.35, a quick ratio of 0.25 and a current ratio of 1.05. AutoCanada has a one year low of C$17.76 and a one 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). The company had revenue of C$1.42 billion during the quarter, compared to analyst estimates of C$1.49 billion. AutoCanada had a return on equity of 8.15% and a net margin of 0.64%. As a group, equities analysts expect that AutoCanada will post 1.7074165 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. acquired 4,700 shares of the business’s stock in a transaction on Friday, April 12th. The shares were purchased at an average price of C$23.75 per share, for a total transaction of C$111,604.79. In the last quarter, insiders have purchased 12,700 shares of company stock worth $290,195. Company insiders own 4.73% 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.