AutoCanada (TSE:ACQ) Given New C$24.00 Price Target at Canaccord Genuity Group

AutoCanada (TSE:ACQ) had its price target hoisted by Canaccord Genuity Group from C$22.00 to C$24.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently commented on the company. CIBC cut their price objective on AutoCanada from C$17.00 to C$15.00 and set an “underperform” rating for the company in a report on Thursday, March 20th. Cibc World Mkts upgraded AutoCanada from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 15th. ATB Capital increased their price target on AutoCanada from C$18.00 to C$18.50 and gave the company a “sector perform” rating in a research note on Thursday, March 27th. Finally, Acumen Capital upgraded AutoCanada from a “hold” rating to a “speculative buy” rating and increased their price target for the company from C$20.00 to C$22.50 in a research note on Friday, March 21st. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AutoCanada has an average rating of “Moderate Buy” and a consensus target price of C$20.31.

AutoCanada Trading Up 3.1%

TSE ACQ opened at C$20.35 on Thursday. The company has a market cap of C$473.58 million, a PE ratio of -9.39, a PEG ratio of 0.30 and a beta of 2.54. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54. AutoCanada has a 12 month low of C$13.75 and a 12 month high of C$22.37. The stock has a 50 day moving average of C$16.70 and a 200-day moving average of C$17.44.

Insiders Place Their Bets

In other news, insider EdgePoint Investment Group Inc. acquired 80,840 shares of the stock in a transaction on Friday, May 16th. The shares were purchased at an average price of C$20.50 per share, for a total transaction of C$1,657,317.01. Company insiders own 4.90% of the company’s stock.

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.