AutoCanada Inc. (TSE:ACQ) Given Average Recommendation of “Hold” by Brokerages

Shares of AutoCanada Inc. (TSE:ACQ) have earned an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$23.50.

ACQ has been the subject of a number of research analyst reports. National Bankshares cut their price objective on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a research report on Friday. CIBC cut 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. ATB Capital cut AutoCanada from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$62.00 to C$25.00 in a report on Friday. BMO Capital Markets cut their target price on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a report on Friday, March 8th. Finally, Scotiabank upped their price target on shares of AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, March 8th.

Insider Buying and Selling

In other news, insider EdgePoint Investment Group Inc. acquired 21,200 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were acquired at an average price of C$26.64 per share, for a total transaction of C$564,865.52. Insiders purchased a total of 34,650 shares of company stock worth $885,855 over the last three months. 4.70% of the stock is owned by insiders.

AutoCanada Trading Down 1.2 %

Shares of ACQ opened at C$20.33 on Monday. The firm has a market cap of C$479.99 million, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25. AutoCanada has a 1 year low of C$15.14 and a 1 year high of C$27.54. The company has a 50 day simple moving average of C$24.01 and a two-hundred day simple moving average of C$22.40.

AutoCanada (TSE:ACQ) last posted its earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The company had revenue of C$1.48 billion during the quarter, compared to analysts’ expectations of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. On average, equities analysts expect that AutoCanada will post 3.0424469 earnings per share for the current fiscal 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.