AutoCanada Inc. (TSE:ACQ - Get Free Report) rose 18.7% on Thursday after CIBC raised their price target on the stock from C$23.00 to C$27.50. The stock traded as high as C$30.65 and last traded at C$29.99. Approximately 110,916 shares changed hands during mid-day trading, an increase of 359% from the average daily volume of 24,170 shares. The stock had previously closed at C$25.27.
A number of other research firms have also commented on ACQ. Acumen Capital raised shares of AutoCanada from a "hold" rating to a "speculative buy" rating and lifted their target price for the stock from C$20.00 to C$22.50 in a report on Friday, March 21st. ATB Capital increased their price objective on shares of AutoCanada from C$18.00 to C$18.50 and gave the stock a "sector perform" rating in a research report on Thursday, March 27th. Cibc World Mkts upgraded shares of AutoCanada from a "strong sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Canaccord Genuity Group boosted their price objective on shares of AutoCanada from C$24.00 to C$28.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$21.25.
Get Our Latest Research Report on AutoCanada
Insiders Place Their Bets
In related news, insider EdgePoint Investment Group Inc. acquired 80,840 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average price of C$20.50 per share, for a total transaction of C$1,657,317.01. Insiders have purchased a total of 88,280 shares of company stock worth $1,809,060 in the last 90 days. 4.90% of the stock is owned by corporate insiders.
AutoCanada Stock Down 1.2%
The firm has a market capitalization of C$662.54 million, a PE ratio of -13.14, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03. The firm's 50-day moving average is C$22.18 and its 200 day moving average is C$18.88.
AutoCanada Company Profile
(
Get Free Report)
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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