Brokerages Set AutoCanada Inc. (TSE:ACQ) Price Target at C$20.31

Shares of AutoCanada Inc. (TSE:ACQ - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$20.31.

Several research firms recently commented on ACQ. Acumen Capital upgraded shares of AutoCanada from a "hold" rating to a "speculative buy" rating and boosted their price objective for the stock from C$20.00 to C$22.50 in a research note on Friday, March 21st. Cibc World Mkts raised AutoCanada from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 15th. CIBC raised AutoCanada from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from C$15.00 to C$23.00 in a research report on Thursday, May 22nd. ATB Capital upped their target price on AutoCanada from C$18.00 to C$18.50 and gave the company a "sector perform" rating in a research report on Thursday, March 27th. Finally, Canaccord Genuity Group raised their price target on AutoCanada from C$22.00 to C$24.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd.

AutoCanada Stock Down 0.3%

TSE ACQ traded down C$0.06 during midday trading on Tuesday, hitting C$21.88. 20,763 shares of the company traded hands, compared to its average volume of 23,514. AutoCanada has a 52 week low of C$13.75 and a 52 week high of C$23.27. The company's 50-day simple moving average is C$18.44 and its 200-day simple moving average is C$17.99. The company has a market cap of C$509.18 million, a PE ratio of -10.10, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25.

Insider Buying and Selling

In other news, insider EdgePoint Investment Group Inc. bought 4,880 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average cost of C$19.78 per share, for a total transaction of C$96,548.36. Insiders acquired a total of 86,770 shares of company stock valued at $1,775,726 over the last 90 days. Insiders own 4.90% of the company's stock.

AutoCanada Company Profile

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships and related business. 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, and extended service contracts; and vehicle protection, after-market products, and auction services.