AutoCanada (TSE:ACQ) Hits New 52-Week High - Here's Why

Key Points

• AutoCanada's stock reached a new **52-week high** at C$34.77, with a recent closing price of C$34.75 and a traded volume of 41,878 shares.
• Wall Street analysts have upgraded AutoCanada's ratings, with price targets now ranging from **C$28.00 to C$40.00**, reflecting strong investment interest.
• The company has a market capitalization of **C$799.37 million** and a current average rating of "Buy" from analysts, indicating positive growth expectations.

AutoCanada Inc. (TSE:ACQ - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as C$34.77 and last traded at C$34.75, with a volume of 41878 shares trading hands. The stock had previously closed at C$34.20.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. CIBC raised shares of AutoCanada from a "neutral" rating to an "outperform" rating and increased their target price for the company from C$32.50 to C$38.00 in a research note on Tuesday, August 26th. Royal Bank Of Canada cut their price target on shares of AutoCanada from C$27.00 to C$23.00 and set a "sector perform" rating on the stock in a report on Friday, August 15th. Cibc World Mkts upgraded shares of AutoCanada from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Canaccord Genuity Group upped their price target on shares of AutoCanada from C$24.00 to C$28.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, BMO Capital Markets upgraded shares of AutoCanada from a "hold" rating to an "outperform" rating and upped their price target for the stock from C$20.00 to C$40.00 in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AutoCanada presently has a consensus rating of "Buy" and a consensus price target of C$33.71.

AutoCanada Stock Performance

The business's 50-day moving average price is C$30.79 and its 200-day moving average price is C$23.01. 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$788.72 million, a PE ratio of -42.06, 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.