AutoCanada (TSE:ACQ) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of AutoCanada (TSE:ACQ) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also issued reports on ACQ. Royal Bank Of Canada reduced their target price on shares of AutoCanada from C$27.00 to C$23.00 and set a “sector perform” rating on the stock in a report on Friday, August 15th. National Bankshares increased their price objective on shares of AutoCanada from C$28.00 to C$36.00 and gave the stock an “outperform” rating in a report on Thursday, August 14th. Canaccord Genuity Group increased their price objective 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. ATB Capital increased their price objective on shares of AutoCanada from C$25.00 to C$32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 14th. Finally, Acumen Capital increased their price objective on shares of AutoCanada from C$30.50 to C$39.00 and gave the stock a “speculative buy” rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, AutoCanada currently has a consensus rating of “Buy” and a consensus price target of C$33.71.

AutoCanada Stock Performance

Shares of ACQ opened at C$33.82 on Monday. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03. AutoCanada has a 1 year low of C$13.75 and a 1 year high of C$34.55. The stock has a market capitalization of C$787.05 million, a P/E ratio of -15.61, a P/E/G ratio of 0.30 and a beta of 2.54. The company’s fifty day moving average is C$26.58 and its two-hundred day moving average is C$20.94.

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.