National Bank Financial Upgrades AutoCanada (TSE:ACQ) to Strong-Buy

AutoCanada (TSE:ACQ - Get Free Report) was upgraded by equities research analysts at National Bank Financial from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on ACQ. National Bankshares upgraded shares of AutoCanada from a "sector perform" rating to an "outperform" rating and increased their price target for the company from C$17.00 to C$21.00 in a research note on Thursday. Acumen Capital reduced their target price on AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. CIBC reduced their target price on AutoCanada from C$18.00 to C$15.50 and set an "underperform" rating for the company in a research note on Wednesday, August 14th. BMO Capital Markets reduced their price target on AutoCanada from C$19.50 to C$19.00 in a research note on Thursday. Finally, ATB Capital reduced their price target on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$19.44.

AutoCanada Price Performance

Shares of ACQ stock remained flat at C$18.90 during trading hours on Wednesday. 48,631 shares of the stock were exchanged, compared to its average volume of 47,896. AutoCanada has a 12 month low of C$13.75 and a 12 month high of C$27.44. The business has a fifty day moving average price of C$15.47 and a two-hundred day moving average price of C$17.78. The firm has a market cap of C$438.29 million, a P/E ratio of -11.92, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03.

AutoCanada (TSE:ACQ - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported C($0.96) EPS for the quarter, missing the consensus estimate of C$0.34 by C($1.30). AutoCanada had a negative net margin of 0.59% and a negative return on equity of 6.62%. The firm had revenue of C$1.60 billion during the quarter, compared to the consensus estimate of C$1.62 billion. On average, research analysts anticipate that AutoCanada will post 2.4311927 earnings per share for the current year.

Insider Transactions at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 7,600 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of C$14.33 per share, with a total value of C$108,939.16. Insiders purchased a total of 119,500 shares of company stock valued at $1,779,856 over the last ninety days. 4.90% of the stock is currently 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.