ATB Capital Forecasts Strong Price Appreciation for AutoCanada (TSE:ACQ) Stock

AutoCanada (TSE:ACQ) had its price objective raised by stock analysts at ATB Capital from C$18.00 to C$18.50 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. ATB Capital’s price target suggests a potential upside of 14.76% from the stock’s current price.

Several other research firms have also recently weighed in on ACQ. Acumen Capital upgraded AutoCanada from a “hold” rating to a “speculative buy” rating and upped their target price for the stock from C$20.00 to C$22.50 in a research note on Friday, March 21st. CIBC dropped their price objective on AutoCanada from C$17.00 to C$15.00 and set an “underperform” rating for the company in a research report on Thursday, March 20th. Finally, Canaccord Genuity Group lifted their target price on AutoCanada from C$17.00 to C$22.00 and gave the company a “strong-buy” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$19.83.

AutoCanada Price Performance

Shares of TSE ACQ opened at C$16.12 on Thursday. The business has a fifty day moving average price of C$17.90 and a two-hundred day moving average price of C$17.15. The stock has a market capitalization of C$375.14 million, a PE ratio of -7.44, a P/E/G ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25. AutoCanada has a fifty-two week low of C$13.75 and a fifty-two week high of C$26.88.

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.