AutoCanada (TSE:ACQ) Reaches New 1-Year High - Should You Buy?

AutoCanada Inc. (TSE:ACQ - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as C$22.52 and last traded at C$22.41, with a volume of 49491 shares changing hands. The stock had previously closed at C$21.89.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ACQ shares. ATB Capital increased their price target 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. Canaccord Genuity Group lifted their price objective on AutoCanada from C$22.00 to C$24.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Acumen Capital upgraded AutoCanada from a "hold" rating to a "speculative buy" rating and upped their target price for the company from C$20.00 to C$22.50 in a research report on Friday, March 21st. Cibc World Mkts upgraded AutoCanada from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, CIBC raised AutoCanada from an "underperform" rating to a "neutral" rating and boosted their price target for the company from C$15.00 to C$23.00 in a research note on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AutoCanada currently has a consensus rating of "Moderate Buy" and an average price target of C$20.31.

AutoCanada Price Performance

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 firm has a market cap of C$539.90 million, a price-to-earnings ratio of -10.70, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company's 50-day moving average is C$17.45 and its 200-day moving average is C$17.80.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. bought 4,880 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were purchased at an average price of C$19.78 per share, with a total value of C$96,548.36. Over the last quarter, insiders have purchased 86,520 shares of company stock valued at $1,770,218. 4.90% of the stock is currently owned by insiders.

AutoCanada Company Profile

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.