AutoCanada (TSE:ACQ) had its price target increased by analysts at CIBC from C$48.50 to C$49.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 22.38% from the company’s previous close.
A number of other brokerages also recently issued reports on ACQ. Scotiabank lowered their price target on AutoCanada from C$47.00 to C$45.00 in a research report on Wednesday. Acumen Capital cut their price target on AutoCanada from C$68.00 to C$61.50 in a research note on Friday, November 12th. National Bank Financial cut their price target on AutoCanada to C$59.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 5th. ATB Capital raised their price target on AutoCanada from C$80.00 to C$85.00 in a research note on Thursday, December 2nd. Finally, Cormark raised their price target on AutoCanada from C$63.00 to C$64.00 in a research note on Wednesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$60.31.
ACQ traded down C$0.55 during trading on Wednesday, reaching C$40.04. 106,426 shares of the company traded hands, compared to its average volume of 91,355. The company has a debt-to-equity ratio of 272.00, a quick ratio of 0.46 and a current ratio of 1.14. AutoCanada has a 12-month low of C$24.84 and a 12-month high of C$59.26. The firm has a fifty day simple moving average of C$37.66 and a 200 day simple moving average of C$44.05. The company has a market cap of C$1.09 billion and a P/E ratio of 9.75.
AutoCanada (TSE:ACQ) last posted its earnings results on Tuesday, November 9th. The company reported C$1.28 EPS for the quarter, beating analysts’ consensus estimates of C$1.17 by C$0.11. The firm had revenue of C$1.21 billion for the quarter, compared to the consensus estimate of C$1.28 billion. As a group, sell-side analysts expect that AutoCanada will post 4.0500001 earnings per share for the current fiscal year.
In related news, Director Dennis Stephan Desrosiers bought 3,100 shares of the business’s stock in a transaction on Friday, December 17th. The shares were bought at an average price of C$37.52 per share, for a total transaction of C$116,321.92. Following the completion of the purchase, the director now directly owns 27,600 shares of the company’s stock, valued at C$1,035,640.32.
AutoCanada Company Profile
AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick, Canada; and Illinois, the United States. The company offers a range of automotive products and services, including new and used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, extended service contracts, and vehicle protection and other after-market products.