CIBC Raises AutoCanada (TSE:ACQ) Price Target to C$16.00

AutoCanada (TSE:ACQ) had its price objective increased by CIBC from C$15.00 to C$16.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has an “underperform” rating on the stock. CIBC’s price objective indicates a potential downside of 4.08% from the stock’s current price.

A number of other research analysts have also commented on ACQ. BMO Capital Markets lowered their price target on AutoCanada from C$19.50 to C$19.00 in a research report on Thursday, November 14th. National Bank Financial raised AutoCanada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, National Bankshares raised AutoCanada from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$17.00 to C$21.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$19.56.

AutoCanada Stock Performance

Shares of TSE:ACQ opened at C$16.68 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. The company has a 50-day moving average price of C$17.64 and a 200-day moving average price of C$16.95. The company has a market cap of C$386.81 million, a price-to-earnings ratio of -10.62, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. AutoCanada has a 12 month low of C$13.75 and a 12 month high of C$27.44.

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.