AutoCanada (TSE:ACQ) Upgraded to Speculative Buy at Acumen Capital

AutoCanada (TSE:ACQ) was upgraded by analysts at Acumen Capital from a “hold” rating to a “speculative buy” rating in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a C$22.50 target price on the stock, up from their prior target price of C$20.00. Acumen Capital’s price target would indicate a potential upside of 26.05% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. CIBC decreased their price target on AutoCanada from C$17.00 to C$15.00 and set an “underperform” rating on the stock in a research report on Thursday. Canaccord Genuity Group upped their price target on shares of AutoCanada from C$17.00 to C$22.00 in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$19.98.

AutoCanada Price Performance

Shares of ACQ stock traded down C$0.24 during trading on Friday, hitting C$17.85. The company had a trading volume of 12,437 shares, compared to its average volume of 18,502. The firm has a market capitalization of C$415.40 million, a P/E ratio of -8.24, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. AutoCanada has a one year low of C$13.75 and a one year high of C$27.44. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03. The stock’s 50-day moving average price is C$17.92 and its 200 day moving average price is C$17.04.

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.