AutoCanada Inc. (TSE:ACQ) Receives C$27.65 Average PT from Brokerages

Shares of AutoCanada Inc. (TSE:ACQ) have been given an average rating of “Hold” by the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$27.65.

Several equities research analysts recently issued reports on the stock. Acumen Capital dropped their price target on shares of AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating on the stock in a research note on Friday, March 8th. Canaccord Genuity Group dropped their price target on shares of AutoCanada from C$22.00 to C$20.00 and set a “hold” rating on the stock in a research note on Friday, March 8th. CIBC dropped their price target on shares of AutoCanada from C$22.50 to C$22.00 and set a “neutral” rating on the stock in a research note on Friday, March 8th. BMO Capital Markets dropped their price target on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a research note on Friday, March 8th. Finally, Scotiabank boosted their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th.

Insider Transactions at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 4,700 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was acquired at an average price of C$23.75 per share, with a total value of C$111,604.79. In the last 90 days, insiders purchased 29,650 shares of company stock valued at $766,165. Insiders own 4.70% of the company’s stock.

AutoCanada Stock Down 2.0 %

ACQ stock opened at C$24.00 on Thursday. The stock has a market capitalization of C$566.64 million, a P/E ratio of 11.65, a PEG ratio of 0.30 and a beta of 2.60. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. AutoCanada has a one year low of C$15.14 and a one year high of C$27.54. The company has a 50 day moving average price of C$23.48 and a two-hundred day moving average price of C$22.50.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.56 by C$0.13. The company had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. As a group, sell-side analysts expect 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.