Samuel Cochrane Buys 795 Shares of AutoCanada (TSE:ACQ) Stock

AutoCanada Inc. (TSE:ACQ) insider Samuel Cochrane purchased 795 shares of the business’s stock in a transaction on Monday, March 30th. The shares were acquired at an average price of C$18.87 per share, for a total transaction of C$15,001.65. Following the completion of the purchase, the insider directly owned 17,599 shares of the company’s stock, valued at approximately C$332,093.13. This trade represents a 4.73% increase in their ownership of the stock.

AutoCanada Stock Up 6.4%

Shares of ACQ opened at C$20.55 on Wednesday. The company’s 50-day simple moving average is C$24.63 and its 200-day simple moving average is C$25.23. The company has a debt-to-equity ratio of 409.72, a quick ratio of 0.25 and a current ratio of 1.07. AutoCanada Inc. has a 1 year low of C$14.00 and a 1 year high of C$35.48. The stock has a market capitalization of C$473.00 million, a PE ratio of 31.14, a P/E/G ratio of 0.30 and a beta of 1.76.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Wednesday, March 18th. The company reported C($0.06) earnings per share for the quarter. AutoCanada had a net margin of 0.33% and a return on equity of 3.40%. The business had revenue of C$1.12 billion during the quarter. Analysts forecast that AutoCanada Inc. will post 2.4311927 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BMO Capital Markets dropped their price target on shares of AutoCanada from C$36.00 to C$24.00 in a research note on Friday, March 20th. Canaccord Genuity Group cut AutoCanada from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$42.00 to C$22.00 in a research note on Thursday, March 19th. Royal Bank Of Canada decreased their target price on AutoCanada from C$28.00 to C$18.00 in a report on Thursday, March 19th. Canadian Imperial Bank of Commerce cut AutoCanada from an “outperform” rating to a “hold” rating and lowered their target price for the stock from C$34.00 to C$20.00 in a research note on Friday, March 20th. Finally, National Bank Financial downgraded AutoCanada from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$29.00 to C$24.00 in a report on Thursday, March 19th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$24.18.

About AutoCanada

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.