AutoCanada (TSE:ACQ) Price Target Raised to C$27.50

AutoCanada (TSE:ACQ - Get Free Report) had its target price lifted by equities research analysts at CIBC from C$23.00 to C$27.50 in a research report issued on Thursday,BayStreet.CA reports. CIBC's target price points to a potential downside of 6.53% from the stock's current price.

A number of other research firms have also recently commented on ACQ. Cibc World Mkts upgraded shares of AutoCanada from a "strong sell" rating to a "hold" rating in a report on Thursday, May 15th. Canaccord Genuity Group lifted their price objective on shares of AutoCanada from C$24.00 to C$28.00 and gave the company a "buy" rating in a report on Monday. ATB Capital lifted 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 report on Thursday, March 27th. Finally, Acumen Capital upgraded shares of AutoCanada from a "hold" rating to a "speculative buy" rating and lifted their price objective for the company from C$20.00 to C$22.50 in a report on Friday, March 21st. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$21.25.

AutoCanada Trading Up 16.4%

Shares of ACQ traded up C$4.15 during trading hours on Thursday, hitting C$29.42. 287,646 shares of the stock were exchanged, compared to its average volume of 25,500. AutoCanada has a fifty-two week low of C$13.75 and a fifty-two week high of C$30.65. 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 business has a 50-day moving average of C$21.72 and a 200-day moving average of C$18.70. The firm has a market capitalization of C$684.65 million, a P/E ratio of -13.57, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54.

Insiders Place Their Bets

In other news, insider EdgePoint Investment Group Inc. purchased 80,840 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average cost of C$20.50 per share, for a total transaction of C$1,657,317.01. Insiders have bought 88,280 shares of company stock worth $1,809,060 in the last 90 days. 4.90% of the stock is currently owned by insiders.

About AutoCanada

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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