Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for AutoCanada (TSE:ACQ) Stock

AutoCanada (TSE:ACQ) had its price target hoisted by stock analysts at Canadian Imperial Bank of Commerce from C$30.00 to C$34.00 in a research note issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 13.98% from the company’s previous close.

A number of other equities research analysts have also weighed in on ACQ. Royal Bank Of Canada cut their target price on shares of AutoCanada from C$30.00 to C$29.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 6th. ATB Capital cut their price objective on AutoCanada from C$30.00 to C$25.00 in a research report on Monday, November 17th. Acumen Capital upped their target price on AutoCanada from C$35.50 to C$39.25 and gave the stock a “speculative buy” rating in a report on Tuesday, January 27th. National Bankshares lowered their target price on AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Finally, Canaccord Genuity Group lifted their price target on AutoCanada from C$36.00 to C$42.00 and gave the company a “buy” rating in a research report on Monday, January 19th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$34.04.

AutoCanada Price Performance

Shares of ACQ stock opened at C$29.83 on Thursday. 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 fifty-two week low of C$14.03 and a fifty-two week high of C$35.48. The firm has a market cap of C$689.04 million, a P/E ratio of -74.58, a P/E/G ratio of 0.30 and a beta of 2.08. The business’s 50 day moving average price is C$24.50 and its 200-day moving average price is C$27.17.

AutoCanada (TSE:ACQ) last announced its earnings results on Thursday, November 13th. The company reported C$0.66 EPS for the quarter. The company had revenue of C$1.20 billion during the quarter. AutoCanada had a negative return on equity of 9.79% and a negative net margin of 0.82%. On average, equities research analysts anticipate that AutoCanada will post 2.4311927 earnings per share for the current year.

AutoCanada Company Profile

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.