AutoCanada Inc. (ACQ) Receives Consensus Rating of “Hold” from Analysts

AutoCanada Inc. (TSE:ACQ) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$17.21.

ACQ has been the subject of a number of research reports. Cormark lifted their price target on shares of AutoCanada from C$9.00 to C$10.75 in a research report on Wednesday, September 26th. Royal Bank of Canada reduced their price target on shares of AutoCanada from C$18.00 to C$17.00 and set an “outperform” rating for the company in a research report on Tuesday. Canaccord Genuity downgraded shares of AutoCanada from a “buy” rating to a “hold” rating and reduced their price target for the company from C$27.00 to C$11.00 in a research report on Monday, August 13th. National Bank Financial downgraded shares of AutoCanada from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$23.50 to C$15.00 in a research report on Friday, August 10th. Finally, Clarus Securities reiterated a “buy” rating on shares of AutoCanada in a research report on Friday, August 3rd.

In related news, insider Michael Rawluk acquired 20,675 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was purchased at an average cost of C$12.07 per share, for a total transaction of C$249,547.25. Also, Director Paul Antony acquired 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The shares were bought at an average price of C$12.85 per share, with a total value of C$1,285,000.00. Over the last quarter, insiders have bought 137,175 shares of company stock valued at $1,701,362.

Shares of ACQ stock traded down C$0.17 during midday trading on Friday, reaching C$9.83. 331,925 shares of the company traded hands, compared to its average volume of 192,455. AutoCanada has a 1-year low of C$9.61 and a 1-year high of C$25.25.

AutoCanada (TSE:ACQ) last posted its quarterly earnings results on Thursday, August 9th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.59 by C($0.04). The firm had revenue of C$880.59 million for the quarter, compared to the consensus estimate of C$963.32 million.

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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