AutoCanada Inc. (TSE:ACQ) Receives Average Recommendation of "Hold" from Brokerages

Shares of AutoCanada Inc. (TSE:ACQ - Get Free Report) have earned a consensus rating of "Hold" from the nine brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$19.11.

ACQ has been the subject of a number of recent research reports. ATB Capital lowered their price objective on shares of AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. Cormark decreased their price target on shares of AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. CIBC cut their price target on AutoCanada from C$18.00 to C$15.50 and set an "underperform" rating on the stock in a research note on Wednesday, August 14th. Canaccord Genuity Group reduced their price objective on AutoCanada from C$18.00 to C$15.00 and set a "hold" rating for the company in a report on Wednesday, August 14th. Finally, BMO Capital Markets cut their price objective on AutoCanada from C$21.00 to C$19.50 and set a "market perform" rating for the company in a report on Wednesday, August 14th.

Insider Buying and Selling

In related news, Director Christopher Harris bought 5,000 shares of AutoCanada stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of C$14.48 per share, with a total value of C$72,400.00. In related news, insider EdgePoint Investment Group Inc. purchased 18,200 shares of AutoCanada stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of C$14.88 per share, with a total value of C$270,901.54. Also, Director Christopher Harris purchased 5,000 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of C$14.48 per share, with a total value of C$72,400.00. In the last three months, insiders acquired 124,500 shares of company stock valued at $1,852,256. Insiders own 4.90% of the company's stock.

AutoCanada Price Performance

TSE ACQ traded down C$0.31 during trading hours on Monday, hitting C$14.97. The company had a trading volume of 53,274 shares, compared to its average volume of 47,713. The firm has a 50 day simple moving average of C$15.33 and a 200 day simple moving average of C$18.52. AutoCanada has a 52 week low of C$13.75 and a 52 week high of C$27.54. The firm has a market capitalization of C$347.15 million, a price-to-earnings ratio of -9.54, a PEG ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03.

AutoCanada (TSE:ACQ - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.96) earnings per share for the quarter, missing the consensus estimate of C$0.34 by C($1.30). The business had revenue of C$1.60 billion during the quarter, compared to analysts' expectations of C$1.62 billion. AutoCanada had a negative net margin of 0.59% and a negative return on equity of 6.62%. Equities research analysts expect that AutoCanada will post 2.4311927 earnings per share 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.