AutoCanada (TSE:ACQ) Price Target Raised to C$23.00

AutoCanada (TSE:ACQ) had its target price lifted by research analysts at Royal Bank Of Canada from C$18.00 to C$23.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 5.36% from the company’s current price.

Several other research analysts have also weighed in on the stock. Canaccord Genuity Group lowered shares of AutoCanada from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$42.00 to C$22.00 in a research note on Thursday, March 19th. BMO Capital Markets lowered their price objective on shares of AutoCanada from C$36.00 to C$24.00 in a research note on Friday, March 20th. Acumen Capital boosted their price objective on shares of AutoCanada from C$25.00 to C$27.00 and gave the stock a “speculative buy” rating in a research note on Thursday, May 14th. National Bank Financial lowered their price objective on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 8th. Finally, Canadian Imperial Bank of Commerce lowered shares of AutoCanada from an “outperform” rating to a “hold” rating and lowered their price objective for the stock from C$34.00 to C$20.00 in a research note on Friday, March 20th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, AutoCanada currently has a consensus rating of “Hold” and an average target price of C$22.71.

AutoCanada Stock Down 0.9%

ACQ stock traded down C$0.20 during midday trading on Tuesday, hitting C$21.83. The company’s stock had a trading volume of 32,464 shares, compared to its average volume of 65,630. 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 has a twelve month low of C$14.00 and a twelve month high of C$35.48. The company’s fifty day moving average price is C$21.08 and its 200 day moving average price is C$23.12. The stock has a market capitalization of C$502.77 million, a P/E ratio of 20.99, a PEG ratio of 0.30 and a beta of 1.85.

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

AutoCanada Company Profile

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.