AutoCanada (TSE:ACQ) Reaches New 52-Week High - Still a Buy?

Key Points

• AutoCanada Inc. (TSE:ACQ) reached a new 52-week high of C$34.50 during trading, indicating strong market performance with a recent volume of 19,720 shares traded.
• Wall Street analysts have mixed opinions; while National Bankshares and BMO Capital Markets have upgraded their ratings and price targets to as high as C$40.00, Royal Bank of Canada has lowered their target to C$23.00.
• Currently, AutoCanada holds a consensus rating of "Buy" from analysts, with a target price average of C$33.71.

AutoCanada Inc. (TSE:ACQ - Get Free Report) hit a new 52-week high on Friday . The company traded as high as C$34.50 and last traded at C$34.42, with a volume of 19720 shares changing hands. The stock had previously closed at C$34.98.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ACQ shares. Royal Bank Of Canada reduced their price objective on AutoCanada from C$27.00 to C$23.00 and set a "sector perform" rating for the company in a research report on Friday, August 15th. ATB Capital increased their target price on AutoCanada from C$25.00 to C$32.00 and gave the company a "sector perform" rating in a research note on Thursday, August 14th. Canaccord Genuity Group upped their price target on AutoCanada from C$24.00 to C$28.00 and gave the company a "buy" rating in a report on Monday, July 14th. Acumen Capital increased their target price on AutoCanada from C$30.50 to C$39.00 and gave the stock a "speculative buy" rating in a report on Thursday, August 14th. Finally, Cibc World Mkts upgraded AutoCanada from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, AutoCanada has an average rating of "Buy" and an average price target of C$33.71.

AutoCanada Price Performance

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 company has a 50 day simple moving average of C$30.21 and a 200-day simple moving average of C$22.55. The stock has a market cap of C$791.73 million, a price-to-earnings ratio of -42.22, a P/E/G ratio of 0.30 and a beta of 2.48.

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.