AutoCanada Inc. (ACQ) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of AutoCanada Inc. (TSE:ACQ) have been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$17.71.

ACQ has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of AutoCanada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research note on Tuesday, August 7th. National Bank Financial lowered shares of AutoCanada from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$23.50 to C$15.00 in a research note on Friday, August 10th. Canaccord Genuity lowered shares of AutoCanada from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$27.00 to C$11.00 in a research note on Monday, August 13th. AltaCorp Capital lowered shares of AutoCanada from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 13th. Finally, Cormark upped their price objective on shares of AutoCanada from C$9.00 to C$10.75 in a research note on Wednesday, September 26th.

TSE ACQ traded down C$0.34 on Wednesday, reaching C$12.43. The company’s stock had a trading volume of 371,044 shares, compared to its average volume of 202,339. AutoCanada has a twelve month low of C$8.36 and a twelve month high of C$24.31. The company has a debt-to-equity ratio of 243.34, a current ratio of 1.13 and a quick ratio of 0.21.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Thursday, November 8th. The company reported C($0.02) EPS for the quarter, missing analysts’ consensus estimates of C$0.35 by C($0.37). The business had revenue of C$866.92 million for the quarter, compared to the consensus estimate of C$841.38 million. Equities analysts predict that AutoCanada will post 1.52999981290429 earnings per share for the current fiscal year.

In related news, insider Raj Juneja purchased 4,000 shares of AutoCanada stock in a transaction dated Tuesday, November 20th. The stock was acquired at an average cost of C$11.75 per share, with a total value of C$47,000.00. Insiders bought 16,450 shares of company stock valued at $187,040 over the last three months.

AutoCanada Company Profile

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. 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, extended service contracts, vehicle protection products, and other after-market products.

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Analyst Recommendations for AutoCanada (TSE:ACQ)

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