Acumen Capital Upgrades AutoCanada (TSE:ACQ) to "Speculative Buy"

AutoCanada (TSE:ACQ - Get Free Report) was upgraded by equities researchers at Acumen Capital from a "hold" rating to a "speculative buy" rating in a note issued to investors on Friday, Marketbeat Ratings 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 objective would indicate a potential upside of 28.13% from the company's previous close.

Several other equities research analysts have also issued reports on ACQ. CIBC decreased their price objective on shares of AutoCanada from C$17.00 to C$15.00 and set an "underperform" rating for the company in a report on Thursday, March 20th. Canaccord Genuity Group boosted their price target on 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$19.98.

AutoCanada Stock Up 0.2 %

Shares of TSE ACQ traded up C$0.03 during mid-day trading on Friday, reaching C$17.56. The company had a trading volume of 401 shares, compared to its average volume of 18,631. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03. AutoCanada has a twelve month low of C$13.75 and a twelve month high of C$27.44. The stock's 50 day moving average is C$17.94 and its 200-day moving average is C$17.12. The stock has a market capitalization of C$408.65 million, a PE ratio of -8.10, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54.

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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.