Canaccord Genuity Group Forecasts Strong Price Appreciation for AutoCanada (TSE:ACQ) Stock

AutoCanada (TSE:ACQ) had its price target hoisted by equities research analysts at Canaccord Genuity Group from C$34.00 to C$36.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s price target indicates a potential upside of 40.35% from the stock’s current price.

ACQ has been the subject of a number of other research reports. BMO Capital Markets raised shares of AutoCanada from a “hold” rating to an “outperform” rating and upped their price objective for the company from C$20.00 to C$40.00 in a research report on Thursday, August 14th. National Bankshares upped their price objective on shares of AutoCanada from C$28.00 to C$36.00 and gave the company an “outperform” rating in a research report on Thursday, August 14th. Cibc World Mkts raised shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. Royal Bank Of Canada dropped their price objective on shares of AutoCanada from C$27.00 to C$23.00 and set a “sector perform” rating for the company in a report on Friday, August 15th. Finally, ATB Capital decreased their price target on shares of AutoCanada from C$32.00 to C$30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$34.57.

AutoCanada Stock Up 0.4%

Shares of AutoCanada stock traded up C$0.09 on Tuesday, hitting C$25.65. 134,015 shares of the company traded hands, compared to its average volume of 33,690. The company has a 50-day moving average price of C$31.10 and a 200 day moving average price of C$25.84. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54. AutoCanada has a 12-month low of C$14.03 and a 12-month high of C$35.48. The company has a market cap of C$593.80 million, a PE ratio of -31.67, a PEG ratio of 0.30 and a beta of 2.18.

AutoCanada Company Profile

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru.