ATB Capital Issues Positive Forecast for AutoCanada (TSE:ACQ) Stock Price

AutoCanada (TSE:ACQ) had its price objective hoisted by ATB Capital from C$25.00 to C$32.00 in a research report released on Thursday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Other research analysts also recently issued research reports about the company. Cibc World Mkts upgraded AutoCanada from a “strong sell” rating to a “hold” rating in a report on Thursday, May 15th. National Bankshares increased their price objective on AutoCanada from C$28.00 to C$36.00 and gave the company an “outperform” rating in a report on Thursday. CIBC upped their target price on AutoCanada from C$23.00 to C$27.50 in a research report on Thursday, July 17th. Canaccord Genuity Group upped their target price on AutoCanada from C$24.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, BMO Capital Markets raised AutoCanada from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$20.00 to C$40.00 in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AutoCanada has a consensus rating of “Moderate Buy” and a consensus target price of C$32.21.

AutoCanada Trading Down 1.1%

ACQ opened at C$30.99 on Thursday. AutoCanada has a one year low of C$13.75 and a one year high of C$33.87. The company has a market cap of C$721.19 million, a P/E ratio of -14.30, a PEG ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03. The business’s 50-day simple moving average is C$24.97 and its 200-day simple moving average is C$20.23.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. bought 4,880 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average cost of C$19.78 per share, with a total value of C$96,548.36. Over the last ninety days, insiders bought 7,440 shares of company stock valued at $151,743. 4.90% of the stock is owned by corporate insiders.

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.