AutoCanada Inc. (TSE:ACQ - Get Free Report) shares reached a new 52-week high on Wednesday following insider buying activity. The company traded as high as C$22.40 and last traded at C$22.31, with a volume of 35850 shares trading hands. The stock had previously closed at C$21.71.
Specifically, insider EdgePoint Investment Group Inc. bought 4,880 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of C$19.78 per share, with a total value of C$96,548.36.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on ACQ shares. Acumen Capital raised shares of AutoCanada from a "hold" rating to a "speculative buy" rating and raised their price objective for the company from C$20.00 to C$22.50 in a research note on Friday, March 21st. ATB Capital raised their price objective on shares of AutoCanada from C$18.00 to C$18.50 and gave the company a "sector perform" rating in a research note on Thursday, March 27th. CIBC raised shares of AutoCanada from an "underperform" rating to a "neutral" rating and raised their price objective for the company from C$15.00 to C$23.00 in a research note on Thursday, May 22nd. Cibc World Mkts raised shares of AutoCanada from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group increased their target price on shares of AutoCanada from C$22.00 to C$24.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AutoCanada has a consensus rating of "Moderate Buy" and an average price target of C$20.31.
Read Our Latest Analysis on AutoCanada
AutoCanada Price Performance
The business's fifty day moving average is C$16.97 and its 200-day moving average is C$17.60. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25. The firm has a market cap of C$519.19 million, a PE ratio of -10.29, a P/E/G ratio of 0.30 and a beta of 2.54.
About AutoCanada
(
Get Free Report)
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.
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