National Bank Financial Issues Pessimistic Forecast for AutoCanada (TSE:ACQ) Stock Price

Key Points

• National Bank Financial cut AutoCanada’s price target to C$21 from C$23 while maintaining a “sector perform” rating, implying 16.53% downside from the stock’s C$25.16 price.
• Analyst sentiment remains cautious: AutoCanada has an average “Hold” rating from seven analysts, with a consensus price target of C$23.14.
• AutoCanada reported C$0.97 in quarterly EPS on C$1.42 billion in revenue, while its high debt-to-equity ratio of 418.22 highlights significant leverage. Insider Paul Antony recently purchased 2,818 shares, and insiders own 4.90% of the company.

AutoCanada (TSE:ACQ - Get Free Report) had its price objective decreased by National Bank Financial from C$23.00 to C$21.00 in a research report issued on Thursday, BayStreet reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price objective suggests a potential downside of 16.53% from the company's current price.

Several other equities analysts have also weighed in on the company. BMO Capital Markets lifted their price target on AutoCanada from C$24.00 to C$27.00 in a research note on Friday, August 14th. Royal Bank Of Canada increased their price target on AutoCanada from C$23.00 to C$24.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$23.14.

AutoCanada Stock Performance

TSE:ACQ traded up C$1.05 during trading hours on Thursday, reaching C$25.16. The company had a trading volume of 12,777 shares, compared to its average volume of 55,077. The company has a debt-to-equity ratio of 418.22, a current ratio of 1.05 and a quick ratio of 0.25. AutoCanada has a 1-year low of C$14.00 and a 1-year high of C$30.35. The business's 50 day moving average price is C$22.84 and its 200-day moving average price is C$22.35. The firm has a market cap of C$578.38 million, a PE ratio of 19.81, a price-to-earnings-growth ratio of 0.30 and a beta of 1.72.

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

Insider Buying and Selling

In other news, insider Paul Antony acquired 2,818 shares of the firm's stock in a transaction on Wednesday, October 7th. The shares were bought at an average price of C$24.07 per share, for a total transaction of C$67,829.26. Following the acquisition, the insider owned 1,560,695 shares of the company's stock, valued at approximately C$37,565,928.65. This trade represents a 0.18% increase in their position. Over the last three months, insiders acquired 6,854 shares of company stock valued at $165,875. 4.90% of the stock is currently owned by corporate insiders.

About AutoCanada

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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