National Bankshares Forecasts Strong Price Appreciation for AutoCanada (TSE:ACQ) Stock

AutoCanada (TSE:ACQ) had its target price increased by equities research analysts at National Bankshares from C$28.00 to C$36.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price target would indicate a potential upside of 16.17% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ACQ. Royal Bank Of Canada boosted their target price on shares of AutoCanada from C$18.00 to C$27.00 in a report on Tuesday, July 22nd. BMO Capital Markets upgraded shares of AutoCanada from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$20.00 to C$40.00 in a report on Thursday. CIBC boosted their target price on shares of AutoCanada from C$23.00 to C$27.50 in a report on Thursday, July 17th. Cibc World Mkts upgraded shares of AutoCanada from a “strong sell” rating to a “hold” rating in a report on Thursday, May 15th. Finally, Canaccord Genuity Group boosted their target price on shares of AutoCanada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$32.21.

AutoCanada Price Performance

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

Insider Activity at AutoCanada

In related news, insider EdgePoint Investment Group Inc. acquired 4,880 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were purchased at an average cost of C$19.78 per share, for a total transaction of C$96,548.36. Insiders have acquired 7,440 shares of company stock valued at $151,743 in the last 90 days. 4.90% of the stock is owned by insiders.

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.