AutoCanada (TSE:ACQ) Price Target Raised to C$23.00

Key Points

• National Bank Financial raised AutoCanada’s price target to C$23.00 from C$21.00 while maintaining a “sector perform” rating, implying 6.84% downside from the prior close.
• Analyst sentiment remains cautious: AutoCanada has an average “Hold” rating and a consensus price target of C$22.86, based on one Buy and six Hold ratings.
• AutoCanada shares rose 9.3% to C$24.69, above the new National Bank target. The company reported quarterly revenue of C$1.19 billion and EPS of C$0.21, but carries a high debt-to-equity ratio of 448.50.

AutoCanada (TSE:ACQ - Get Free Report) had its price target raised by stock analysts at National Bank Financial from C$21.00 to C$23.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's target price suggests a potential downside of 6.84% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada boosted their target price on AutoCanada from C$18.00 to C$23.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 26th. ATB Cormark Capital Markets lowered their price objective on shares of AutoCanada from C$22.00 to C$21.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 19th. Acumen Capital lifted their price target on shares of AutoCanada from C$25.00 to C$27.00 and gave the company a "speculative buy" rating in a research note on Thursday, May 14th. Finally, BMO Capital Markets cut shares of AutoCanada from an "outperform" rating to a "hold" rating and set a C$24.00 price target on the stock. in a research report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, AutoCanada presently has an average rating of "Hold" and an average price target of C$22.86.

AutoCanada Stock Up 9.3%

Shares of AutoCanada stock traded up C$2.11 on Thursday, hitting C$24.69. The company had a trading volume of 118,535 shares, compared to its average volume of 56,033. The firm has a market capitalization of C$568.64 million, a P/E ratio of 23.74, a P/E/G ratio of 0.30 and a beta of 1.67. The company has a debt-to-equity ratio of 448.50, a current ratio of 1.07 and a quick ratio of 0.25. AutoCanada has a twelve month low of C$14.00 and a twelve month high of C$35.48. The stock has a 50-day moving average of C$22.59 and a 200-day moving average of C$22.99.

AutoCanada (TSE:ACQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported C$0.21 earnings per share (EPS) for the quarter. The firm had revenue of C$1.19 billion for the quarter. AutoCanada had a return on equity of 5.29% and a net margin of 0.51%. Research analysts predict that AutoCanada will post 2.4311927 earnings per share for the current year.

About AutoCanada

AutoCanada's Canadian Dealership Operations include 64 franchised dealerships representing 23 automotive brands across eight provinces, as well as three independent used dealerships. The Company currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen vehicles. In 2024, AutoCanada's Canadian dealerships sold approximately 85,000 new and used retail vehicles.

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