AutoCanada (TSE:ACQ) Price Target Raised to C$23.00

AutoCanada (TSE:ACQ) had its price target upped by equities research analysts at Royal Bank Of Canada from C$18.00 to C$23.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 5.36% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Canadian Imperial Bank of Commerce downgraded shares of AutoCanada from an “outperform” rating to a “hold” rating and cut their price objective for the company from C$34.00 to C$20.00 in a report on Friday, March 20th. BMO Capital Markets cut their price objective on shares of AutoCanada from C$36.00 to C$24.00 in a report on Friday, March 20th. Canaccord Genuity Group downgraded shares of AutoCanada from a “buy” rating to a “hold” rating and cut their price objective for the company from C$42.00 to C$22.00 in a report on Thursday, March 19th. National Bank Financial cut their price objective on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a report on Wednesday, April 8th. Finally, ATB Cormark Capital Markets cut their price objective on shares of AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$22.71.

AutoCanada Stock Performance

Shares of ACQ stock traded down C$0.20 during midday trading on Tuesday, hitting C$21.83. 32,464 shares of the company were exchanged, compared to its average volume of 65,630. The company has a debt-to-equity ratio of 448.50, a quick ratio of 0.25 and a current ratio of 1.07. The firm has a market capitalization of C$502.77 million, a P/E ratio of 20.99, a PEG ratio of 0.30 and a beta of 1.85. AutoCanada has a 52 week low of C$14.00 and a 52 week high of C$35.48. The firm’s 50 day moving average price is C$21.08 and its two-hundred day moving average price is C$23.12.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Wednesday, May 13th. The company reported C$0.21 earnings per share (EPS) for the quarter. The firm had revenue of C$1.19 billion during the quarter. AutoCanada had a net margin of 0.51% and a return on equity of 5.29%. As a group, equities research analysts anticipate that AutoCanada will post 2.4311927 earnings per share for the current year.

AutoCanada Company Profile

AutoCanada’s Canadian Dealership Operations include 64 franchised dealerships representing 23 automotive brands across eight provinces, as well as three independent used dealerships. The Company currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen vehicles. In 2024, AutoCanada’s Canadian dealerships sold approximately 85,000 new and used retail vehicles.