Shares of AutoCanada Inc. (TSE:ACQ – Get Free Report) were down 8.1% during trading on Thursday . The company traded as low as C$20.89 and last traded at C$22.42. Approximately 205,897 shares were traded during trading, an increase of 505% from the average daily volume of 34,007 shares. The stock had previously closed at C$24.39.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on ACQ. Cormark set a C$35.00 price objective on AutoCanada in a report on Tuesday, March 19th. Canaccord Genuity Group reduced their target price on shares of AutoCanada from C$20.00 to C$18.00 and set a “hold” rating for the company in a research report on Friday. BMO Capital Markets reduced their price objective on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a research report on Friday, March 8th. Acumen Capital downgraded AutoCanada from a “speculative buy” rating to a “hold” rating and cut their target price for the stock from C$24.50 to C$21.50 in a research note on Friday. Finally, National Bankshares lowered their price target on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, AutoCanada has an average rating of “Hold” and a consensus target price of C$22.95.
Check Out Our Latest Stock Analysis on ACQ
AutoCanada Price Performance
AutoCanada (TSE:ACQ – Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. On average, equities analysts predict that AutoCanada Inc. will post 3.0424469 earnings per share for the current year.
Insider Transactions at AutoCanada
In other news, insider EdgePoint Investment Group Inc. bought 21,200 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average price of C$26.64 per share, for a total transaction of C$564,865.52. Over the last ninety days, insiders purchased 34,650 shares of company stock valued at $885,855. 4.70% of the stock is currently owned by corporate insiders.
AutoCanada Company Profile
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.
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