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AutoCanada (TSE:ACQ) PT Raised to C$48.00

Last updated on Thursday, April 29, 2021 | 2021 MarketBeat

AutoCanada (TSE:ACQ) had its price target lifted by investment analysts at CIBC from C$41.00 to C$48.00 in a research note issued to investors on Thursday, BayStreet.CA reports. CIBC's price target would indicate a potential downside of 2.77% from the company's current price.

A number of other analysts have also commented on the stock. ATB Capital boosted their price objective on shares of AutoCanada from C$40.00 to C$55.00 and gave the stock an "outperform" rating in a research report on Thursday, April 22nd. Canaccord Genuity upped their price objective on shares of AutoCanada from C$32.00 to C$36.00 in a report on Thursday, March 4th. Scotiabank upped their price objective on shares of AutoCanada from C$40.00 to C$46.00 in a research report on Thursday, April 15th. Cormark reiterated a "buy" rating and issued a C$51.50 price objective on shares of AutoCanada in a report on Friday, April 16th. Finally, National Bank Financial raised their price objective on shares of AutoCanada from C$27.00 to C$29.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of "Buy" and a consensus target price of C$42.56.

TSE ACQ traded up C$2.17 during midday trading on Thursday, hitting C$49.37. The company had a trading volume of 255,212 shares, compared to its average volume of 167,632. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 377.39. The stock has a market cap of C$1.34 billion and a price-to-earnings ratio of -181.36. The firm has a fifty day simple moving average of C$34.93 and a two-hundred day simple moving average of C$28.54. AutoCanada has a fifty-two week low of C$5.82 and a fifty-two week high of C$51.85.

AutoCanada (TSE:ACQ) last released its quarterly earnings data on Tuesday, March 2nd. The company reported C$0.52 EPS for the quarter, topping analysts' consensus estimates of C$0.48 by C$0.04. The business had revenue of C$876.12 million for the quarter, compared to the consensus estimate of C$871.74 million. As a group, equities analysts predict that AutoCanada will post 3.19 earnings per share for the current year.

About AutoCanada

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick, Canada; and Illinois, the United States. 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, extended service contracts, and vehicle protection and other after-market products.

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Analyst Recommendations for AutoCanada (TSE:ACQ)

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