AutoCanada (TSE:ACQ) Rating Increased to Speculative Buy at Acumen Capital

AutoCanada (TSE:ACQ) was upgraded by stock analysts at Acumen Capital from a “hold” rating to a “speculative buy” rating in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a C$22.50 target price on the stock, up from their prior target price of C$20.00. Acumen Capital’s price objective indicates a potential upside of 26.05% from the company’s current price.

Other research analysts also recently issued reports about the company. CIBC lowered their target price on AutoCanada from C$17.00 to C$15.00 and set an “underperform” rating on the stock in a report on Thursday. Canaccord Genuity Group raised their target price on shares of AutoCanada from C$17.00 to C$22.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AutoCanada has a consensus rating of “Hold” and an average price target of C$19.98.

AutoCanada Trading Down 1.3 %

Shares of TSE ACQ traded down C$0.24 during trading on Friday, hitting C$17.85. 12,437 shares of the company traded hands, compared to its average volume of 18,502. The firm has a market capitalization of C$415.40 million, a P/E ratio of -8.24, a P/E/G ratio of 0.30 and a beta of 2.54. AutoCanada has a 1 year low of C$13.75 and a 1 year high of C$27.44. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54. The company has a 50-day moving average price of C$17.92 and a 200-day moving average price of C$17.04.

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.