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AutoCanada ( (TSE:ACQ) ) has issued an update.
AutoCanada has completed the sale of its Chevrolet and Hyundai dealerships in Palatine, Illinois, which were classified as discontinued operations at the end of 2024. The sale generated $9.3 million in cash, which will be used to reduce the company’s revolving credit facility. This move is part of AutoCanada’s strategy to streamline its operations and focus on its core Canadian market, potentially improving financial stability and operational efficiency.
The most recent analyst rating on (TSE:ACQ) stock is a Hold with a C$34.00 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.
The overall score reflects strong technical momentum and positive earnings call highlights, offset by financial challenges and valuation concerns. The company’s transformation strategy and cost savings are promising, but declining revenue and high leverage remain significant risks.
To see Spark’s full report on TSE:ACQ stock, click here.
More about AutoCanada
AutoCanada is a Canadian automobile dealership group operating 64 franchised dealerships across eight provinces in Canada, offering a diverse range of 23 vehicle brands. The company also operates three independent used dealerships and 29 collision centers, providing comprehensive automotive services. In the U.S., AutoCanada operates as Leader Automotive Group with 14 franchised dealerships in Illinois, selling 10 different vehicle brands.
Average Trading Volume: 42,323
Technical Sentiment Signal: Buy
Current Market Cap: C$717.4M
For an in-depth examination of ACQ stock, go to TipRanks’ Overview page.