Shares of AutoCanada Inc. (TSE:ACQ - Get Free Report) were up 18.7% during mid-day trading on Thursday after CIBC raised their price target on the stock from C$23.00 to C$27.50. The company 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 analysts have also issued reports on the company. Acumen Capital upgraded AutoCanada from a "hold" rating to a "speculative buy" rating and increased 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 raised shares of AutoCanada from a "strong sell" rating to a "hold" rating in a report on Thursday, May 15th. ATB Capital boosted their target price on shares of AutoCanada from C$18.00 to C$18.50 and gave the stock a "sector perform" rating in a research note on Thursday, March 27th. Finally, Canaccord Genuity Group upped their price target on shares of AutoCanada from C$24.00 to C$28.00 and gave the stock a "buy" rating in a research report on Monday. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, AutoCanada presently has an average rating of "Moderate Buy" and an average target price of C$21.25.
View Our Latest Research Report on ACQ
Insider Buying and Selling at AutoCanada
In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 4,880 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average cost of C$19.78 per share, with a total value of C$96,548.36. Over the last quarter, insiders bought 88,280 shares of company stock worth $1,809,060. 4.90% of the stock is currently owned by company insiders.
AutoCanada Stock Up 15.3%
The firm's 50 day simple moving average is C$21.72 and its 200-day simple moving average is C$18.70. The company has a market cap of C$678.13 million, a price-to-earnings ratio of -13.45, a P/E/G ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25.
About AutoCanada
(
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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