Brokerages Set AutoCanada Inc. (TSE:ACQ) Target Price at C$34.04

Shares of AutoCanada Inc. (TSE:ACQ) have been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$34.04.

Several analysts recently weighed in on the company. Royal Bank Of Canada decreased their target price on AutoCanada from C$30.00 to C$29.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 6th. Canadian Imperial Bank of Commerce upped their price target on AutoCanada from C$30.00 to C$34.00 in a report on Thursday, February 5th. Acumen Capital increased their price objective on AutoCanada from C$35.50 to C$39.25 and gave the company a “speculative buy” rating in a research report on Tuesday, January 27th. Canaccord Genuity Group raised their price objective on shares of AutoCanada from C$36.00 to C$42.00 and gave the stock a “buy” rating in a research note on Monday, January 19th. Finally, ATB Cormark Capital Markets dropped their target price on shares of AutoCanada from C$30.00 to C$25.00 in a research report on Monday, November 17th.

AutoCanada Stock Up 3.5%

ACQ stock opened at C$20.36 on Thursday. The company has a debt-to-equity ratio of 376.45, a current ratio of 1.09 and a quick ratio of 0.25. AutoCanada has a 52-week low of C$14.03 and a 52-week high of C$35.48. The company has a 50-day moving average of C$25.95 and a two-hundred day moving average of C$26.39. The stock has a market capitalization of C$470.30 million, a price-to-earnings ratio of -50.90, a price-to-earnings-growth ratio of 0.30 and a beta of 1.76.

AutoCanada Company Profile

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. The majority of revenue is generated in the new-vehicles sales segment.