AutoCanada (ACQ) Lifted to Buy at Canaccord Genuity
Canaccord Genuity upgraded shares of AutoCanada (TSE:ACQ) from a hold rating to a buy rating in a research report released on Monday morning. They currently have C$14.00 target price on the stock, up from their prior target price of C$11.00.
A number of other equities research analysts have also recently commented on ACQ. AltaCorp Capital cut AutoCanada from an outperform rating to a sector perform rating in a research note on Monday, August 13th. Cormark lifted their target price on AutoCanada from C$9.00 to C$10.75 in a research note on Wednesday, September 26th. Clarus Securities reiterated a buy rating on shares of AutoCanada in a research note on Friday, August 3rd. Royal Bank of Canada lowered their target price on AutoCanada from C$18.00 to C$17.00 and set an outperform rating on the stock in a research note on Tuesday, November 6th. Finally, National Bank Financial cut AutoCanada from an outperform rating to a sector perform rating and lowered their target price for the stock from C$23.50 to C$15.00 in a research note on Friday, August 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. AutoCanada has a consensus rating of Hold and a consensus price target of C$17.71.
ACQ opened at C$10.88 on Monday. The company has a quick ratio of 0.21, a current ratio of 1.13 and a debt-to-equity ratio of 243.34. AutoCanada has a 1 year low of C$8.36 and a 1 year high of C$24.98.
AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. 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, extended service contracts, vehicle protection products, and other after-market products.
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