AutoCanada (TSE:ACQ) Price Target Raised to C$28.00 at Canaccord Genuity Group

AutoCanada (TSE:ACQ) had its target price boosted by Canaccord Genuity Group from C$24.00 to C$28.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on the stock. CIBC upgraded shares of AutoCanada from an “underperform” rating to a “neutral” rating and upped their price target for the company from C$15.00 to C$23.00 in a research note on Thursday, May 22nd. ATB Capital upped their price target on shares of AutoCanada from C$18.00 to C$18.50 and gave the company a “sector perform” rating in a research note on Thursday, March 27th. Cibc World Mkts upgraded shares of AutoCanada from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 15th. Finally, Acumen Capital upgraded shares of AutoCanada from a “hold” rating to a “speculative buy” rating and upped their price target for the company from C$20.00 to C$22.50 in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AutoCanada currently has a consensus rating of “Moderate Buy” and an average price target of C$20.75.

AutoCanada Stock Up 2.5%

AutoCanada stock opened at C$24.95 on Monday. AutoCanada has a twelve month low of C$13.75 and a twelve month high of C$25.39. The firm has a 50 day moving average price of C$21.16 and a 200-day moving average price of C$18.55. The company has a market capitalization of C$580.63 million, a P/E ratio of -11.51, a P/E/G ratio of 0.30 and a beta of 2.54. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54.

Insider Transactions at AutoCanada

In related news, insider EdgePoint Investment Group Inc. acquired 4,880 shares of the stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average price of C$19.78 per share, for a total transaction of C$96,548.36. In the last 90 days, insiders have purchased 88,280 shares of company stock valued at $1,809,060. Corporate insiders own 4.90% of the company’s stock.

AutoCanada Company Profile

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships and related business. The company offers a range of automotive products and services, including new and used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, and extended service contracts; and vehicle protection, after-market products, and auction services.