AutoCanada Inc. (TSE:ACQ) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of AutoCanada Inc. (TSE:ACQ) have been given an average rating of “Moderate Buy” by the ten analysts that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$20.31.

Several research firms recently issued reports on ACQ. Canaccord Genuity Group increased their price target on shares of AutoCanada from C$22.00 to C$24.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. CIBC raised shares of AutoCanada from an “underperform” rating to a “neutral” rating and increased their price target for the stock from C$15.00 to C$23.00 in a research report on Thursday, May 22nd. Cibc World Mkts raised shares of AutoCanada from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 15th. ATB Capital increased their price target on shares of AutoCanada from C$18.00 to C$18.50 and gave the stock a “sector perform” rating in a research report on Thursday, March 27th. Finally, Acumen Capital raised shares of AutoCanada from a “hold” rating to a “speculative buy” rating and increased their price target for the stock from C$20.00 to C$22.50 in a research report on Friday, March 21st.

Insiders Place Their Bets

In related news, insider EdgePoint Investment Group Inc. purchased 4,880 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were acquired at an average cost of C$19.78 per share, with a total value of C$96,548.36. Over the last ninety days, insiders have bought 86,770 shares of company stock valued at $1,775,726. 4.90% of the stock is currently owned by insiders.

AutoCanada Stock Down 0.3%

Shares of ACQ opened at C$21.88 on Tuesday. AutoCanada has a 52 week low of C$13.75 and a 52 week high of C$23.27. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03. The firm has a market capitalization of C$509.18 million, a P/E ratio of -10.10, a P/E/G ratio of 0.30 and a beta of 2.54. The company has a 50-day simple moving average of C$18.58 and a 200-day simple moving average of C$18.00.

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.