AutoCanada (TSE:ACQ) Trading 13.7% Higher After Analyst Upgrade

Key Points

• AutoCanada shares surged 13.7% to C$25.68 after National Bank Financial raised its price target from C$21.00 to C$23.00, despite maintaining a “sector perform” rating.
• Analyst sentiment remains cautious overall: AutoCanada has one Buy rating and six Hold ratings, with a consensus target price of C$22.86. Recent targets range from C$21.00 to C$27.00.
• The company reported quarterly revenue of C$1.19 billion and EPS of C$0.21, but operates with high leverage, including a debt-to-equity ratio of 448.50 and a quick ratio of 0.25.

AutoCanada Inc. (TSE:ACQ - Get Free Report)'s share price shot up 13.7% during trading on Thursday after National Bank Financial raised their price target on the stock from C$21.00 to C$23.00. National Bank Financial currently has a sector perform rating on the stock. AutoCanada traded as high as C$26.70 and last traded at C$25.68. 96,135 shares were traded during trading, an increase of 72% from the average session volume of 55,991 shares. The stock had previously closed at C$22.58.

Several other research firms also recently weighed in on ACQ. Acumen Capital boosted their price target on shares of AutoCanada from C$25.00 to C$27.00 and gave the stock a "speculative buy" rating in a research note on Thursday, May 14th. Royal Bank Of Canada raised their price objective 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 decreased their price objective on 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. Finally, BMO Capital Markets downgraded AutoCanada from an "outperform" rating to a "hold" rating and set a C$24.00 price objective on the stock. in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, AutoCanada currently has an average rating of "Hold" and a consensus target price of C$22.86.

AutoCanada Stock Performance

The company has a 50 day moving average of C$22.59 and a two-hundred day moving average of C$22.99. The company has a debt-to-equity ratio of 448.50, a current ratio of 1.07 and a quick ratio of 0.25. The company has a market capitalization of C$565.87 million, a PE ratio of 23.62, a PEG ratio of 0.30 and a beta of 1.67.

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

AutoCanada Company Profile

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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