AutoCanada (ACQ) Hits New 12-Month Low at $16.55

AutoCanada (TSE:ACQ) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$16.55 and last traded at C$16.61, with a volume of 73784 shares trading hands. The stock had previously closed at C$16.84.

Several equities research analysts have recently issued reports on ACQ shares. Royal Bank of Canada raised AutoCanada from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$26.00 to C$27.00 in a research report on Monday, March 19th. CIBC decreased their target price on AutoCanada from C$29.00 to C$26.00 in a research report on Monday, March 19th. Canaccord Genuity raised AutoCanada from a “hold” rating to a “buy” rating and raised their target price for the company from C$25.00 to C$27.00 in a research report on Friday, March 23rd. National Bank Financial set a C$29.50 target price on AutoCanada and gave the company an “outperform” rating in a research report on Friday, April 13th. Finally, Scotiabank set a C$27.50 target price on AutoCanada and gave the company a “sector perform” rating in a research report on Friday, April 20th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$26.30.

AutoCanada (TSE:ACQ) last announced its earnings results on Thursday, March 15th. The company reported C$0.33 earnings per share (EPS) for the quarter. AutoCanada had a return on equity of 10.35% and a net margin of 1.79%. The firm had revenue of C$733.06 million during the quarter, compared to analyst estimates of C$720.78 million.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Wednesday, May 30th.

About AutoCanada

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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