AutoCanada Inc. (TSE:ACQ) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• AutoCanada Inc. has been given an average rating of "Buy" from nine brokerages, with five analysts suggesting a buy and two a strong buy.
• Analysts have adjusted their price targets for AutoCanada, with Acumen Capital increasing it to C$39.00, while Royal Bank of Canada lowered theirs to C$23.00.
• The company's stock currently trades at C$28.26, reflecting a 4.1% decrease, with a market cap of C$654.22 million.

AutoCanada Inc. (TSE:ACQ - Get Free Report) has received an average rating of "Buy" from the nine brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$33.71.

Several equities research analysts recently issued reports on the company. Acumen Capital boosted their price target on AutoCanada from C$30.50 to C$39.00 and gave the company a "speculative buy" rating in a research note on Thursday, August 14th. Cibc World Mkts upgraded AutoCanada from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. Royal Bank Of Canada cut their price target on AutoCanada from C$27.00 to C$23.00 and set a "sector perform" rating for the company in a research note on Friday, August 15th. CIBC upgraded AutoCanada from a "neutral" rating to an "outperform" rating and boosted their price target for the company from C$32.50 to C$38.00 in a research note on Tuesday, August 26th. Finally, Canaccord Genuity Group boosted their price target on AutoCanada from C$24.00 to C$28.00 and gave the company a "buy" rating in a research note on Monday, July 14th.

AutoCanada Trading Down 4.1%

Shares of ACQ stock opened at C$28.26 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54. The stock has a market cap of C$654.22 million, a P/E ratio of -34.89, a price-to-earnings-growth ratio of 0.30 and a beta of 2.18. The stock has a 50 day simple moving average of C$31.98 and a 200 day simple moving average of C$24.50. AutoCanada has a 1 year low of C$14.03 and a 1 year high of C$35.48.

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.

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