ATB Capital Forecasts Strong Price Appreciation for AutoCanada (TSE:ACQ) Stock

AutoCanada (TSE:ACQ - Free Report) had its target price increased by ATB Capital from C$18.00 to C$18.50 in a research note published on Thursday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other research firms have also weighed in on ACQ. Canaccord Genuity Group upped their price target on shares of AutoCanada from C$17.00 to C$22.00 and gave the stock a "strong-buy" rating in a research report on Thursday, March 20th. 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 report on Thursday, March 20th. Finally, Acumen Capital upgraded AutoCanada from a "hold" rating to a "speculative buy" rating and increased their target price for the stock from C$20.00 to C$22.50 in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$19.83.

AutoCanada Stock Performance

ACQ traded up C$0.19 during trading on Thursday, hitting C$16.31. The company's stock had a trading volume of 15,483 shares, compared to its average volume of 18,236. AutoCanada has a one year low of C$13.75 and a one year high of C$26.88. The business's 50 day simple moving average is C$17.90 and its 200-day simple moving average is C$17.19. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54. The firm has a market cap of C$379.56 million, a PE ratio of -7.53, a P/E/G ratio of 0.30 and a beta of 2.54.

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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.