AutoCanada (TSE:ACQ) Raised to Outperform at National Bankshares

National Bankshares upgraded shares of AutoCanada (TSE:ACQ) from a sector perform rating to an outperform rating in a report published on Thursday,BayStreet.CA reports. The firm currently has C$21.00 price target on the stock, up from their prior price target of C$17.00.

Other analysts have also issued reports about the stock. Acumen Capital cut their price target on shares of AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. ATB Capital reduced their price objective on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. Cormark lowered their target price on AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. CIBC reduced their price target on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating on the stock in a research report on Wednesday, August 14th. Finally, Canaccord Genuity Group decreased their price objective on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$19.44.

AutoCanada Price Performance

ACQ stock opened at C$18.90 on Thursday. The business’s fifty day moving average price is C$15.56 and its 200 day moving average price is C$17.65. AutoCanada has a 12-month low of C$13.75 and a 12-month high of C$27.44. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. The company has a market capitalization of C$438.29 million, a PE ratio of -12.04, a P/E/G ratio of 0.30 and a beta of 2.54.

Insider Activity at AutoCanada

In other news, insider EdgePoint Investment Group Inc. acquired 7,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of C$14.33 per share, with a total value of C$108,939.16. Insiders acquired 119,500 shares of company stock valued at $1,779,856 over the last three months. 4.90% of the stock is owned by corporate insiders.

AutoCanada Company Profile

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships and related business. 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, and extended service contracts; and vehicle protection, after-market products, and auction services.