AutoCanada (TSE:ACQ) Trading Up 13.7% After Analyst Upgrade

AutoCanada Inc. (TSE:ACQ) shares rose 13.7% on Thursday after National Bank Financial raised their price target on the stock from C$21.00 to C$23.00. National Bank Financial currently has a sector perform rating on the stock. AutoCanada traded as high as C$26.70 and last traded at C$25.68. 96,135 shares traded hands during trading, an increase of 72% from the average session volume of 55,991 shares. The stock had previously closed at C$22.58.

Several other research firms also recently weighed in on ACQ. Royal Bank Of Canada lifted their target price on AutoCanada from C$18.00 to C$23.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 26th. Acumen Capital lifted their price target on shares of AutoCanada from C$25.00 to C$27.00 and gave the company a “speculative buy” rating in a report on Thursday, May 14th. BMO Capital Markets downgraded shares of AutoCanada from an “outperform” rating to a “hold” rating and set a C$24.00 target price on the stock. in a report on Monday, July 20th. Finally, ATB Cormark Capital Markets cut their target price on AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$22.86.

AutoCanada Stock Performance

The firm has a market capitalization of C$565.87 million, a P/E ratio of 23.62, a P/E/G ratio of 0.30 and a beta of 1.67. The firm has a 50-day moving average price of C$22.59 and a two-hundred day moving average price of C$22.99. The company has a debt-to-equity ratio of 448.50, a current ratio of 1.07 and a quick ratio of 0.25.

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

About AutoCanada

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.