AutoCanada (TSE:ACQ) Upgraded by National Bankshares to Outperform Rating

National Bankshares upgraded shares of AutoCanada (TSE:ACQ) from a sector perform rating to an outperform rating in a research note issued to investors on Thursday morning,BayStreet.CA reports. The brokerage currently has C$21.00 price objective on the stock, up from their prior price objective of C$17.00.

A number of other research analysts have also issued reports on ACQ. BMO Capital Markets dropped their target price on AutoCanada from C$21.00 to C$19.50 and set a “market perform” rating on the stock in a report on Wednesday, August 14th. Royal Bank of Canada cut their price target on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Cormark lowered their price objective on AutoCanada from C$25.50 to C$21.75 in a report on Wednesday, August 14th. Canaccord Genuity Group cut their price objective on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, Acumen Capital decreased their target price on shares of AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$19.44.

AutoCanada Stock Performance

TSE ACQ opened at C$18.90 on Thursday. The firm has a market cap of C$438.29 million, a P/E ratio of -12.04, a P/E/G ratio of 0.30 and a beta of 2.54. AutoCanada has a 52-week low of C$13.75 and a 52-week high of C$27.44. The business’s 50-day moving average price is C$15.56 and its 200 day moving average price is C$17.65. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38.

Insider Buying and Selling at AutoCanada

In other news, insider EdgePoint Investment Group Inc. bought 7,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average price of C$14.33 per share, with a total value of C$108,939.16. In the last 90 days, insiders have purchased 119,500 shares of company stock worth $1,779,856. 4.90% of the stock is owned by insiders.

About AutoCanada

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.