AutoCanada (TSE:ACQ) Stock Price Expected to Rise, CIBC Analyst Says

AutoCanada (TSE:ACQ) had its price objective increased by equities researchers at CIBC from C$16.00 to C$17.00 in a report released on Monday,BayStreet.CA reports. CIBC’s price objective points to a potential downside of 8.70% from the company’s previous close.

Several other analysts have also recently issued reports on ACQ. BMO Capital Markets lowered their price objective on shares of AutoCanada from C$19.50 to C$19.00 in a research note on Thursday, November 14th. National Bank Financial upgraded AutoCanada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, National Bankshares upgraded AutoCanada from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$17.00 to C$21.00 in a report on Thursday, November 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$19.67.

AutoCanada Trading Up 1.3 %

Shares of ACQ traded up C$0.23 during mid-day trading on Monday, hitting C$18.62. The company had a trading volume of 2,027 shares, compared to its average volume of 20,007. AutoCanada has a 1-year low of C$13.75 and a 1-year high of C$27.44. The business’s 50-day simple moving average is C$18.25 and its 200-day simple moving average is C$16.91. The stock has a market cap of C$431.80 million, a PE ratio of -11.86, a P/E/G ratio of 0.30 and a beta of 2.54. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38.

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.