AutoCanada (TSE:ACQ) Hits New 12-Month High - Should You 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 during mid-day trading on Friday . The company traded as high as C$34.50 and last traded at C$34.42, with a volume of 19720 shares traded. The stock had previously closed at C$34.98.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACQ. National Bankshares lifted their price target on AutoCanada from C$28.00 to C$36.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Royal Bank Of Canada decreased 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. Canaccord Genuity Group lifted their price target on AutoCanada from C$24.00 to C$28.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. BMO Capital Markets upgraded AutoCanada from a "hold" rating to an "outperform" rating and lifted their target price for the company from C$20.00 to C$40.00 in a research note on Thursday, August 14th. Finally, Cibc World Mkts upgraded AutoCanada from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$33.71.

AutoCanada Price Performance

The stock has a market capitalization of C$795.90 million, a price-to-earnings ratio of -42.44, a P/E/G ratio of 0.30 and a beta of 2.48. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54. The business has a 50-day simple moving average of C$29.23 and a two-hundred day simple moving average of C$22.10.

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.

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