Analysts Set AutoCanada Inc. (ACQ) PT at $17.38
AutoCanada Inc. (TSE:ACQ) has been given an average rating of “Hold” by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation 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$17.21.
ACQ has been the subject of several recent research reports. Cormark increased their price target on AutoCanada from C$9.00 to C$10.75 in a research note on Wednesday, September 26th. Royal Bank of Canada decreased their price target on AutoCanada from C$18.00 to C$17.00 and set an “outperform” rating for the company in a research note on Tuesday. Canaccord Genuity cut AutoCanada from a “buy” rating to a “hold” rating and decreased their price target for the company from C$27.00 to C$11.00 in a research note on Monday, August 13th. National Bank Financial cut AutoCanada from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$23.50 to C$15.00 in a research note on Friday, August 10th. Finally, Clarus Securities reissued a “buy” rating on shares of AutoCanada in a research note on Friday, August 3rd.
In related news, Director Dennis Stephan Desrosiers bought 10,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were bought at an average price of C$11.23 per share, for a total transaction of C$112,300.00. Also, Director Maryann Natalie Keller bought 3,500 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was bought at an average price of C$8.11 per share, for a total transaction of C$28,385.00. In the last quarter, insiders acquired 137,175 shares of company stock worth $1,701,362.
AutoCanada (TSE:ACQ) last issued its quarterly earnings results on Thursday, August 9th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.59 by C($0.04). The firm had revenue of C$880.59 million during the quarter, compared to the consensus estimate of C$963.32 million. As a group, analysts expect that AutoCanada will post 1.45000007375382 EPS for the current fiscal year.
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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