AutoCanada (TSE:ACQ) Given a C$27.00 Price Target by Desjardins Analysts

Key Points

• Desjardins assigned AutoCanada a C$27.00 price target and “hold” rating, implying 4.69% downside from the previous close.
• Analyst sentiment remains cautious: one analyst rates the stock a Buy and seven rate it Hold, with an average target price of C$23.62.
• AutoCanada shares fell 1.6% to C$28.33, while insider Paul Antony purchased 5,000 shares; insiders have bought 21,098 shares worth about C$536,851 over the past 90 days.

AutoCanada (TSE:ACQ - Get Free Report) has been given a C$27.00 target price by equities research analysts at Desjardins in a report issued on Wednesday, BayStreet reports. The brokerage currently has a "hold" rating on the stock. Desjardins's target price suggests a potential downside of 4.69% from the company's previous close.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price target on shares of AutoCanada from C$24.00 to C$27.00 in a research note on Friday, August 14th. Royal Bank Of Canada lifted their price target on shares of AutoCanada from C$23.00 to C$24.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 18th. Finally, National Bank Financial decreased their price objective on AutoCanada from C$23.00 to C$21.00 and set a "sector perform" rating on the stock in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of C$23.62.

AutoCanada Trading Down 1.6%

Shares of ACQ stock traded down C$0.45 on Wednesday, hitting C$28.33. 32,271 shares of the stock traded hands, compared to its average volume of 54,345. The company has a debt-to-equity ratio of 418.22, a quick ratio of 0.25 and a current ratio of 1.05. AutoCanada has a twelve month low of C$14.00 and a twelve month high of C$30.35. The firm's 50-day moving average price is C$23.64 and its two-hundred day moving average price is C$23.29. The stock has a market capitalization of C$651.25 million, a PE ratio of 22.31, a PEG ratio of 0.30 and a beta of 1.72.

AutoCanada (TSE:ACQ - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$0.97 earnings per share (EPS) for the quarter. AutoCanada had a net margin of 0.63% and a return on equity of 6.64%. The firm had revenue of C$1.42 billion during the quarter. As a group, analysts anticipate that AutoCanada will post 2.43 EPS for the current year.

Insiders Place Their Bets

In related news, insider Paul Antony purchased 5,000 shares of AutoCanada stock in a transaction dated Monday, October 19th. The shares were acquired at an average cost of C$27.13 per share, with a total value of C$135,650.00. Following the purchase, the insider owned 1,577,475 shares of the company's stock, valued at approximately C$42,796,896.75. The trade was a 0.32% increase in their ownership of the stock. Insiders have bought a total of 21,098 shares of company stock worth $536,851 over the last ninety days. Company insiders own 4.90% of the company's stock.

AutoCanada Company Profile

AutoCanada's Canadian Dealership Operations include 64 franchised dealerships representing 23 automotive brands across eight provinces, as well as three independent used dealerships. The Company currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen vehicles. In 2024, AutoCanada's Canadian dealerships sold approximately 85,000 new and used retail vehicles.

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