AutoCanada Inc. (TSE:ACQ) Receives C$19.11 Average Target Price from Brokerages

Shares of AutoCanada Inc. (TSE:ACQ) have received a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$19.11.

A number of research firms have recently weighed in on ACQ. National Bankshares dropped their price objective on AutoCanada from C$20.00 to C$17.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Canaccord Genuity Group cut their price objective on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. CIBC reduced their price objective on shares of AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating on the stock in a research report on Wednesday, August 14th. Cormark dropped their target price on shares of AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets cut their target price on shares of AutoCanada from C$21.00 to C$19.50 and set a “market perform” rating for the company in a research note on Wednesday, August 14th.

AutoCanada Stock Performance

ACQ opened at C$16.11 on Thursday. The company has a 50 day simple moving average of C$15.91 and a two-hundred day simple moving average of C$19.68. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25. The firm has a market cap of C$373.59 million, a P/E ratio of -10.26, a PEG ratio of 0.30 and a beta of 2.54. AutoCanada has a 1-year low of C$13.75 and a 1-year high of C$27.54.

AutoCanada (TSE:ACQ) last released its earnings results on Tuesday, August 13th. The company reported C($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). AutoCanada had a negative net margin of 0.59% and a negative return on equity of 6.62%. The firm had revenue of C$1.60 billion for the quarter, compared to analysts’ expectations of C$1.62 billion. Equities analysts forecast that AutoCanada will post 2.5376506 earnings per share for the current fiscal year.

Insider Transactions at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 27,200 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were purchased at an average cost of C$15.47 per share, for a total transaction of C$420,900.96. In other news, Director Christopher Harris acquired 5,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of C$14.48 per share, with a total value of C$72,400.00. Also, insider EdgePoint Investment Group Inc. purchased 27,200 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of C$15.47 per share, with a total value of C$420,900.96. Insiders have acquired a total of 124,500 shares of company stock worth $1,852,256 in the last three months. 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.