Brokerages Set AutoCanada Inc. (TSE:ACQ) Target Price at C$22.25

Key Points

• AutoCanada Inc. has received an average recommendation of "Moderate Buy" from ten brokerages, with six holding, three buying, and one strong buy rating.
• CIBC and Royal Bank of Canada raised their price targets for AutoCanada shares significantly, with CIBC now at C$27.50 and RBC at C$27.00.
• Insider trading activity shows a recent purchase of 80,840 shares by EdgePoint Investment Group, indicating confidence in the company's prospects.

AutoCanada Inc. (TSE:ACQ - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$22.25.

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on AutoCanada from C$18.00 to C$27.00 in a research note on Tuesday, July 22nd. CIBC boosted their price objective on shares of AutoCanada from C$23.00 to C$27.50 in a research report on Thursday, July 17th. Cibc World Mkts raised shares of AutoCanada from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Canaccord Genuity Group boosted their price objective on shares of AutoCanada from C$24.00 to C$28.00 and gave the company a "buy" rating in a research report on Monday, July 14th.

Insider Activity at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 80,840 shares of the company's stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of C$20.50 per share, with a total value of C$1,657,317.01. Over the last ninety days, insiders have bought 88,280 shares of company stock worth $1,809,060. 4.90% of the stock is owned by corporate insiders.

AutoCanada Stock Performance

Shares of ACQ stock traded down C$0.11 on Wednesday, reaching C$26.40. The stock had a trading volume of 30,899 shares, compared to its average volume of 26,635. The stock has a market cap of C$614.37 million, a P/E ratio of -12.18, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. AutoCanada has a 1 year low of C$13.75 and a 1 year high of C$30.65. 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 company has a 50 day simple moving average of C$23.58 and a 200 day simple moving average of C$19.49.

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.