Acumen Capital Forecasts Strong Price Appreciation for AutoCanada (TSE:ACQ) Stock

AutoCanada (TSE:ACQ) had its price target hoisted by equities research analysts at Acumen Capital from C$35.50 to C$39.25 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. Acumen Capital’s price objective suggests a potential upside of 41.70% from the company’s previous close.

A number of other equities research analysts have also recently commented on ACQ. Canaccord Genuity Group raised their price target on AutoCanada from C$36.00 to C$42.00 and gave the company a “buy” rating in a report on Monday, January 19th. CIBC decreased their target price on AutoCanada from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Royal Bank Of Canada reduced their price target on shares of AutoCanada from C$30.00 to C$29.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 6th. National Bankshares reduced their target price on AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Finally, ATB Capital dropped their price target on AutoCanada from C$30.00 to C$25.00 in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$33.46.

AutoCanada Stock Performance

Shares of ACQ stock traded up C$1.02 during trading hours on Tuesday, reaching C$27.70. 38,827 shares of the company traded hands, compared to its average volume of 84,824. The firm has a 50-day moving average price of C$23.02 and a 200 day moving average price of C$27.05. The company has a market cap of C$639.84 million, a P/E ratio of -69.25, a P/E/G ratio of 0.30 and a beta of 2.04. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25. AutoCanada has a 12-month low of C$14.03 and a 12-month high of C$35.48.

AutoCanada (TSE:ACQ) last issued its quarterly earnings results on Thursday, November 13th. The company reported C$0.66 earnings per share for the quarter. The business had revenue of C$1.20 billion for the quarter. AutoCanada had a negative net margin of 0.82% and a negative return on equity of 9.79%. As a group, sell-side analysts predict that AutoCanada will post 2.4311927 earnings per share for the current fiscal year.

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.