AutoCanada (TSE:ACQ) Announces Quarterly Earnings Results

AutoCanada (TSE:ACQ) announced its earnings results on Thursday. The company reported C$1.83 earnings per share (EPS) for the quarter, FiscalAI reports. AutoCanada had a return on equity of 6.64% and a net margin of 0.63%. The business had revenue of C$1.24 billion for the quarter.

AutoCanada Price Performance

TSE:ACQ opened at C$27.98 on Friday. The business’s 50-day moving average is C$25.16 and its 200 day moving average is C$23.47. AutoCanada has a 12 month low of C$14.00 and a 12 month high of C$30.35. The company has a market capitalization of C$643.20 million, a P/E ratio of 22.03, a P/E/G ratio of 0.30 and a beta of 1.85. The company has a current ratio of 1.05, a quick ratio of 0.25 and a debt-to-equity ratio of 418.22.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ACQ. Royal Bank Of Canada boosted their price objective 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. Desjardins set a C$27.00 price objective on AutoCanada and gave the stock a “hold” rating in a research note on Wednesday, October 28th. BMO Capital Markets boosted their price target on AutoCanada from C$24.00 to C$27.00 in a report on Friday, August 14th. 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 research note on Thursday, October 15th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$23.62.

Insiders Place Their Bets

In other news, insider Paul Antony purchased 5,000 shares of the business’s stock in a transaction on Monday, October 19th. The stock was acquired at an average price of C$27.13 per share, for a total transaction of C$135,650.00. Following the acquisition, the insider directly owned 1,577,475 shares of the company’s stock, valued at C$42,796,896.75. This represents a 0.32% increase in their position. In the last three months, insiders purchased 27,298 shares of company stock worth $716,111. 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.