BMO Capital Markets Upgrades AutoCanada (TSE:ACQ) to Outperform

AutoCanada (TSE:ACQ) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a C$40.00 target price on the stock, up from their prior target price of C$20.00. BMO Capital Markets’ price objective suggests a potential upside of 29.07% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. CIBC boosted their price objective on AutoCanada from C$23.00 to C$27.50 in a research note on Thursday, July 17th. Canaccord Genuity Group boosted their price objective on AutoCanada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Cibc World Mkts raised AutoCanada from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 15th. Finally, Royal Bank Of Canada boosted their price objective on AutoCanada from C$18.00 to C$27.00 in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$32.21.

AutoCanada Trading Down 1.1%

Shares of ACQ stock opened at C$30.99 on Thursday. AutoCanada has a 12-month low of C$13.75 and a 12-month high of C$33.87. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54. The stock’s 50-day moving average price is C$24.97 and its 200-day moving average price is C$20.22. The stock has a market capitalization of C$721.19 million, a price-to-earnings ratio of -14.30, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. bought 4,880 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average cost of C$19.78 per share, with a total value of C$96,548.36. Insiders acquired 7,440 shares of company stock worth $151,743 over the last 90 days. Corporate insiders own 4.90% of the company’s stock.

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.