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

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

A number of other research analysts also recently commented on the stock. Royal Bank Of Canada lowered their price target on shares of AutoCanada from C$28.00 to C$18.00 in a report on Thursday, March 19th. ATB Cormark Capital Markets lowered their price target on shares of AutoCanada from C$25.00 to C$22.00 and set a “sector perform” rating for the company in a report on Thursday, March 19th. BMO Capital Markets reduced their price objective on shares of AutoCanada from C$36.00 to C$24.00 in a research report on Friday, March 20th. National Bank Financial reduced 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 report on Wednesday, April 8th. Finally, Canaccord Genuity Group lowered shares of AutoCanada from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$42.00 to C$22.00 in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$22.14.

AutoCanada Trading Up 0.5%

Shares of TSE:ACQ traded up C$0.10 during trading on Thursday, reaching C$21.03. The company’s stock had a trading volume of 54,443 shares, compared to its average volume of 66,311. The company has a current ratio of 1.07, a quick ratio of 0.25 and a debt-to-equity ratio of 409.72. AutoCanada has a 12 month low of C$14.00 and a 12 month high of C$35.48. The firm’s 50 day simple moving average is C$21.18 and its two-hundred day simple moving average is C$23.37. The stock has a market capitalization of C$484.05 million, a PE ratio of 31.86, a price-to-earnings-growth ratio of 0.30 and a beta of 1.85.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results on Wednesday, May 13th. The company reported C$0.21 EPS for the quarter. AutoCanada had a net margin of 0.33% and a return on equity of 3.40%. The firm had revenue of C$1.19 billion during the quarter. On average, research analysts predict that AutoCanada will post 2.4311927 EPS 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.