AutoCanada (TSE:ACQ) Rating Increased to Outperform at AltaCorp Capital

AutoCanada (TSE:ACQ) was upgraded by investment analysts at AltaCorp Capital from a “sector perform” rating to an “outperform” rating in a report issued on Sunday, Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. CIBC reduced their target price on shares of AutoCanada from C$12.50 to C$11.00 in a research report on Monday, May 6th. Canaccord Genuity lowered shares of AutoCanada from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$14.00 to C$10.00 in a research report on Monday, May 6th. GMP Securities reiterated an “average” rating and set a C$16.00 target price on shares of AutoCanada in a research report on Wednesday, May 8th. Finally, Clarus Securities reiterated a “buy” rating on shares of AutoCanada in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$12.46.

Shares of ACQ stock opened at C$9.72 on Friday. AutoCanada has a 1 year low of C$8.36 and a 1 year high of C$13.92. The business’s 50 day moving average is C$10.05. The firm has a market capitalization of $268.96 million and a price-to-earnings ratio of -5.23. The company has a debt-to-equity ratio of 352.13, a current ratio of 1.09 and a quick ratio of 0.19.

About AutoCanada

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. 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, extended service contracts, vehicle protection products, and other after-market products.

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Analyst Recommendations for AutoCanada (TSE:ACQ)

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