AutoCanada (TSE:ACQ) Price Target Raised to C$24.00

Key Points

• Royal Bank of Canada raised AutoCanada’s price target from C$23.00 to C$24.00 while maintaining a “sector perform” rating, implying 4.62% upside from the previous close.
• Analyst sentiment remains cautious: AutoCanada has a consensus “Hold” rating from seven analysts and an average target price of C$23.43, though several firms recently increased their targets.
• AutoCanada shares closed at C$22.94, with a market capitalization of approximately C$528 million. The company operates 64 franchised dealerships across Canada and sold roughly 85,000 new and used retail vehicles in 2024.

AutoCanada (TSE:ACQ - Get Free Report) had its target price raised by investment analysts at Royal Bank Of Canada from C$23.00 to C$24.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 4.62% from the company's previous close.

ACQ has been the subject of a number of other reports. National Bank Financial upped their price objective on AutoCanada from C$21.00 to C$23.00 and gave the stock a "sector perform" rating in a report on Thursday, August 13th. ATB Cormark Capital Markets decreased their price target on shares of AutoCanada from C$22.00 to C$21.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 19th. BMO Capital Markets upped their price objective on shares of AutoCanada from C$24.00 to C$27.00 in a research note on Friday. Finally, Acumen Capital increased their target price on shares of AutoCanada from C$25.00 to C$27.00 and gave the company a "speculative buy" rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, AutoCanada has a consensus rating of "Hold" and an average target price of C$23.43.

AutoCanada Price Performance

Shares of ACQ stock traded down C$0.26 during trading on Tuesday, hitting C$22.94. The company had a trading volume of 33,426 shares, compared to its average volume of 56,139. The stock's 50-day moving average is C$22.74 and its two-hundred day moving average is C$22.92. The stock has a market capitalization of C$528.33 million, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 0.30 and a beta of 1.67. The company has a quick ratio of 0.25, a current ratio of 1.05 and a debt-to-equity ratio of 418.22. AutoCanada has a 52 week low of C$14.00 and a 52 week high of C$35.48.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source