CIBC Boosts AutoCanada (TSE:ACQ) Price Target to C$27.50

AutoCanada (TSE:ACQ) had its price target increased by research analysts at CIBC from C$23.00 to C$27.50 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s target price would suggest a potential downside of 4.55% from the stock’s previous close.

Several other equities analysts have also commented on ACQ. Cibc World Mkts upgraded AutoCanada from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 15th. Acumen Capital raised AutoCanada from a “hold” rating to a “speculative buy” rating and upped their target price for the stock from C$20.00 to C$22.50 in a research note on Friday, March 21st. Canaccord Genuity Group lifted their price target on shares of AutoCanada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Finally, ATB Capital boosted their price objective on shares of AutoCanada from C$18.00 to C$18.50 and gave the stock a “sector perform” rating in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$21.25.

AutoCanada Stock Down 1.1%

ACQ opened at C$28.81 on Thursday. The business’s fifty day simple moving average is C$22.18 and its 200 day simple moving average is C$18.86. AutoCanada has a 52 week low of C$13.75 and a 52 week high of C$30.65. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54. The stock has a market cap of C$670.45 million, a PE ratio of -13.29, a P/E/G ratio of 0.30 and a beta of 2.54.

Insiders Place Their Bets

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

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.