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AutoCanada ( (TSE:ACQ) ) just unveiled an update.
AutoCanada reported a decrease in revenue from continuing operations for the third quarter, with a decline of $211 million compared to the previous year. Despite the drop in top-line performance, the company achieved a significant increase in net income from total operations, rising to $16.8 million. The company’s transformation plan aims to improve operational efficiency and drive profitable growth, with a focus on expanding collision operations and enhancing dealership performance under the new ACX framework.
The most recent analyst rating on (TSE:ACQ) stock is a Hold with a C$24.00 price target. To see the full list of analyst forecasts on AutoCanada stock, see the TSE:ACQ Stock Forecast page.
Spark’s Take on TSE:ACQ Stock
According to Spark, TipRanks’ AI Analyst, TSE:ACQ is a Neutral.
AutoCanada’s overall stock score is primarily impacted by its weak financial performance and bearish technical indicators. The negative P/E ratio and lack of dividend yield further contribute to a low valuation score. However, the positive aspects from the earnings call, including cost savings and improved profitability, provide some support to the overall score.
To see Spark’s full report on TSE:ACQ stock, click here.
More about AutoCanada
AutoCanada Inc. is a multi-location North American automobile dealership group. The company operates in the automotive retail industry, focusing on selling new and used vehicles, as well as providing parts, service, and collision repair services.
Average Trading Volume: 58,557
Technical Sentiment Signal: Hold
Current Market Cap: C$522M
Learn more about ACQ stock on TipRanks’ Stock Analysis page.