Atb Cap Markets Comments on AutoCanada Inc.’s FY2024 Earnings (TSE:ACQ)

AutoCanada Inc. (TSE:ACQ) – Investment analysts at Atb Cap Markets reduced their FY2024 earnings per share (EPS) estimates for shares of AutoCanada in a report released on Tuesday, August 13th. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings of ($0.63) per share for the year, down from their prior forecast of $1.64. Atb Cap Markets has a “Sector Perform” rating on the stock. The consensus estimate for AutoCanada’s current full-year earnings is $1.65 per share. Atb Cap Markets also issued estimates for AutoCanada’s Q4 2024 earnings at $0.43 EPS, Q1 2025 earnings at $0.18 EPS and Q4 2025 earnings at $0.70 EPS.

Several other research firms have also commented on ACQ. National Bankshares reduced their price target on AutoCanada from C$20.00 to C$17.00 and set a “sector perform” rating for the company in a research report on Wednesday. Royal Bank of Canada reduced their price target on AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating for the company in a research report on Wednesday. Cormark reduced their target price on AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday. BMO Capital Markets reduced their target price on AutoCanada from C$21.00 to C$19.50 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group reduced their target price on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, AutoCanada presently has a consensus rating of “Hold” and an average target price of C$19.11.

AutoCanada Trading Down 3.2 %

Shares of TSE ACQ opened at C$14.44 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.05 and a debt-to-equity ratio of 408.35. The business has a fifty day simple moving average of C$19.21 and a two-hundred day simple moving average of C$21.47. The firm has a market cap of C$338.91 million, a PE ratio of 8.80, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. AutoCanada has a twelve month low of C$14.20 and a twelve month high of C$27.54.

Insider Buying and Selling at AutoCanada

In other news, Director Christopher Harris purchased 5,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of C$14.48 per share, for a total transaction of C$72,400.00. In the last 90 days, insiders have bought 8,000 shares of company stock worth $131,300. 4.79% of the stock is currently owned by 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.