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

AutoCanada (TSE:ACQ) had its price objective boosted by investment analysts at Canaccord Genuity Group from C$36.00 to C$42.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 65.22% from the stock’s previous close.

Several other equities research analysts have also commented on ACQ. National Bankshares decreased their price target on AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. ATB Capital decreased their target price on AutoCanada from C$30.00 to C$25.00 in a research report on Monday, November 17th. CIBC lowered their target price on AutoCanada from C$33.00 to C$30.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Royal Bank Of Canada dropped their target price on shares of AutoCanada from C$30.00 to C$29.00 and set a “sector perform” rating for the company in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, AutoCanada presently has a consensus rating of “Moderate Buy” and an average price target of C$33.43.

AutoCanada Price Performance

Shares of TSE ACQ traded up C$0.30 during trading on Monday, hitting C$25.42. 36,934 shares of the company were exchanged, compared to its average volume of 36,599. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25. AutoCanada has a 1 year low of C$14.03 and a 1 year high of C$35.48. The company has a market cap of C$587.18 million, a price-to-earnings ratio of -63.55, a PEG ratio of 0.30 and a beta of 2.04. The firm’s fifty day moving average price is C$22.43 and its 200 day moving average price is C$26.88.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Thursday, November 13th. The company reported C$0.66 EPS for the quarter. AutoCanada had a negative net margin of 0.82% and a negative return on equity of 9.79%. The firm had revenue of C$1.20 billion during the quarter. On average, sell-side analysts expect that AutoCanada will post 2.4311927 earnings per share for the current fiscal year.

About AutoCanada

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.