Acumen Capital Issues Positive Forecast for AutoCanada (TSE:ACQ) Stock Price

AutoCanada (TSE:ACQ) had its price target increased by equities researchers at Acumen Capital from C$25.00 to C$27.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. Acumen Capital’s price target suggests a potential upside of 28.39% from the company’s current price.

ACQ has been the subject of a number of other reports. BMO Capital Markets decreased their price objective on shares of AutoCanada from C$36.00 to C$24.00 in a report on Friday, March 20th. National Bank Financial decreased their price objective on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a report on Wednesday, April 8th. Royal Bank Of Canada decreased their target price on shares of AutoCanada from C$28.00 to C$18.00 in a research note on Thursday, March 19th. Canaccord Genuity Group downgraded AutoCanada from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$42.00 to C$22.00 in a research note on Thursday, March 19th. Finally, Canadian Imperial Bank of Commerce cut AutoCanada from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$34.00 to C$20.00 in a research report on Friday, March 20th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, AutoCanada presently has a consensus rating of “Hold” and an average target price of C$22.14.

AutoCanada Stock Up 0.5%

Shares of ACQ traded up C$0.10 during mid-day trading on Thursday, reaching C$21.03. The company had a trading volume of 54,443 shares, compared to its average volume of 66,311. The company has a debt-to-equity ratio of 409.72, a quick ratio of 0.25 and a current ratio of 1.07. The firm has a 50-day moving average price of C$21.18 and a 200 day moving average price of C$23.37. AutoCanada has a 52 week low of C$14.00 and a 52 week high of C$35.48. The company has a market capitalization of C$484.05 million, a price-to-earnings ratio of 31.86, a price-to-earnings-growth 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 EPS for the quarter. AutoCanada had a return on equity of 3.40% and a net margin of 0.33%.The firm had revenue of C$1.19 billion for the quarter. On average, sell-side analysts forecast that AutoCanada will post 2.4311927 EPS for the current year.

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. The majority of revenue is generated in the new-vehicles sales segment.