Shares of AutoCanada Inc. (TSE:ACQ) have been assigned a consensus rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat reports. Five 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 issued a report on the stock in the last year is C$18.75.
Several research analysts have commented on ACQ shares. Scotiabank reissued a “sector perform” rating and set a C$22.50 price objective on shares of AutoCanada in a report on Tuesday, June 12th. National Bank Financial dropped their price objective on shares of AutoCanada from C$25.00 to C$23.50 and set an “outperform” rating for the company in a report on Tuesday, June 12th. Cormark downgraded shares of AutoCanada from a “buy” rating to a “market perform” rating and dropped their price objective for the company from C$29.00 to C$19.00 in a report on Wednesday, June 6th. Royal Bank of Canada dropped their price objective on shares of AutoCanada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a report on Tuesday, August 7th. Finally, Clarus Securities reissued a “buy” rating on shares of AutoCanada in a report on Friday, August 3rd.
In other AutoCanada news, insider Michael Rawluk purchased 20,675 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was purchased at an average price of C$12.07 per share, with a total value of C$249,547.25. Also, Director Maryann Natalie Keller purchased 3,500 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was acquired at an average cost of C$8.11 per share, with a total value of C$28,385.00. Insiders have acquired a total of 137,175 shares of company stock valued at $1,701,362 in the last three months.
Shares of ACQ stock opened at C$12.84 on Friday. AutoCanada has a 52-week low of C$9.61 and a 52-week high of C$26.11.
AutoCanada (TSE:ACQ) last issued its quarterly earnings results on Thursday, August 9th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.59 by C($0.04). AutoCanada had a return on equity of 10.35% and a net margin of 1.79%. The business had revenue of C$880.59 million during the quarter, compared to analysts’ expectations of C$963.32 million.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 15th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Thursday, August 30th.
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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