AutoCanada (TSE:ACQ) Stock Rating Upgraded by National Bankshares

AutoCanada (TSE:ACQ) was upgraded by research analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a C$21.00 target price on the stock, up from their previous target price of C$17.00. National Bankshares’ price target would indicate a potential upside of 11.11% from the stock’s current price.

Other research analysts also recently issued reports about the stock. ATB Capital lowered their price objective on shares of AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. BMO Capital Markets dropped their price target on AutoCanada from C$21.00 to C$19.50 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. CIBC decreased their price objective on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada lowered their target price on AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Finally, Cormark cut their price target on AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoCanada currently has an average rating of “Hold” and an average price target of C$19.44.

AutoCanada Price Performance

Shares of ACQ opened at C$18.90 on Thursday. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25. AutoCanada has a 1-year low of C$13.75 and a 1-year high of C$27.44. The stock has a market cap of C$438.29 million, a PE ratio of -12.04, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The firm has a fifty day moving average price of C$15.56 and a 200 day moving average price of C$17.74.

AutoCanada (TSE:ACQ) last released its quarterly 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). The firm had revenue of C$1.60 billion for the quarter, compared to analyst estimates of C$1.62 billion. AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. As a group, sell-side analysts anticipate that AutoCanada will post 2.4311927 EPS for the current year.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. purchased 7,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average price of C$14.33 per share, for a total transaction of C$108,939.16. Insiders purchased 119,500 shares of company stock worth $1,779,856 in the last 90 days. 4.90% of the stock is currently owned by corporate 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.