AutoCanada Inc. (TSE:ACQ) Receives Average Rating of “Buy” from Analysts

Shares of AutoCanada Inc. (TSE:ACQ) have been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$55.00.

A number of equities analysts have issued reports on the stock. National Bankshares upgraded shares of AutoCanada from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$45.00 to C$64.00 in a research report on Friday, August 13th. Canaccord Genuity lifted their price target on shares of AutoCanada to C$60.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. National Bank Financial lifted their price target on shares of AutoCanada to C$64.00 and gave the stock an “outperform” rating in a report on Friday, August 13th. Scotiabank lifted their price target on shares of AutoCanada from C$55.00 to C$65.00 in a report on Friday, August 13th. Finally, CIBC reiterated a “neutral” rating and set a C$50.00 price target on shares of AutoCanada in a report on Friday, August 13th.

Shares of TSE ACQ traded up C$1.25 during midday trading on Thursday, hitting C$45.89. The company had a trading volume of 5,183 shares, compared to its average volume of 160,681. The company has a quick ratio of 0.39, a current ratio of 1.10 and a debt-to-equity ratio of 315.18. AutoCanada has a twelve month low of C$19.31 and a twelve month high of C$59.26. The business has a 50-day simple moving average of C$47.95 and a two-hundred day simple moving average of C$45.68. The firm has a market capitalization of C$1.23 billion and a price-to-earnings ratio of 10.96.

AutoCanada (TSE:ACQ) last announced its earnings results on Wednesday, August 11th. The company reported C$1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.39. The business had revenue of C$1.28 billion for the quarter, compared to analyst estimates of C$1.13 billion. On average, equities analysts forecast that AutoCanada will post 3.9600001 EPS for the current year.

About AutoCanada

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick, Canada; and Illinois, the United States. 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, extended service contracts, and vehicle protection and other after-market products.

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Analyst Recommendations for AutoCanada (TSE:ACQ)

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