AutoCanada (TSE:ACQ) Stock Price Expected to Rise, Acumen Capital Analyst Says

AutoCanada (TSE:ACQ) had its target price hoisted by equities researchers at Acumen Capital from C$25.00 to C$27.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. Acumen Capital’s price target suggests a potential upside of 25.76% from the stock’s previous close.

A number of other research firms also recently weighed in on ACQ. National Bank Financial lowered their price target on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 8th. ATB Cormark Capital Markets cut their price objective on AutoCanada from C$25.00 to C$22.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 19th. BMO Capital Markets cut their price objective on AutoCanada from C$36.00 to C$24.00 in a research report on Friday, March 20th. Canaccord Genuity Group cut AutoCanada from a “buy” rating to a “hold” rating and cut their price objective for the company from C$42.00 to C$22.00 in a research report on Thursday, March 19th. Finally, Canadian Imperial Bank of Commerce cut AutoCanada from an “outperform” rating to a “hold” rating and cut their price objective for the company from C$34.00 to C$20.00 in a research report on Friday, March 20th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$22.14.

AutoCanada Trading Up 0.1%

Shares of TSE ACQ opened at C$21.47 on Thursday. AutoCanada has a one year low of C$14.00 and a one year high of C$35.48. The firm has a market capitalization of C$494.17 million, a PE ratio of 32.53, a PEG ratio of 0.30 and a beta of 1.85. The company has a current ratio of 1.07, a quick ratio of 0.25 and a debt-to-equity ratio of 448.50. The business has a 50-day moving average price of C$21.07 and a two-hundred day moving average price of C$23.32.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results on Wednesday, May 13th. The company reported C$0.21 earnings per share for the quarter. The firm had revenue of C$1.19 billion for the quarter. AutoCanada had a return on equity of 5.29% and a net margin of 0.51%. As a group, analysts predict that AutoCanada will post 2.4311927 earnings per share for the current fiscal year.

AutoCanada Company Profile

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.