National Bank Financial Forecasts Strong Price Appreciation for AutoCanada (TSE:ACQ) Stock

AutoCanada (TSE:ACQ) had its price target hoisted by equities research analysts at National Bank Financial from C$21.00 to C$23.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price target would indicate a potential downside of 6.84% from the stock’s current price.

ACQ has been the subject of several other reports. ATB Cormark Capital Markets cut their target price on shares of AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 19th. Acumen Capital upped their price objective on AutoCanada from C$25.00 to C$27.00 and gave the company a “speculative buy” rating in a research note on Thursday, May 14th. BMO Capital Markets downgraded AutoCanada from an “outperform” rating to a “hold” rating and set a C$24.00 price target for the company. in a report on Monday, July 20th. Finally, Royal Bank Of Canada upped their price objective on shares of AutoCanada from C$18.00 to C$23.00 and gave the company a “sector perform” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$22.86.

AutoCanada Stock Performance

ACQ stock traded up C$2.11 during trading hours on Thursday, reaching C$24.69. The stock had a trading volume of 118,535 shares, compared to its average volume of 56,033. The stock has a 50-day simple moving average of C$22.59 and a 200 day simple moving average of C$22.99. AutoCanada has a fifty-two week low of C$14.00 and a fifty-two week high of C$35.48. The stock has a market capitalization of C$568.64 million, a PE ratio of 23.74, a price-to-earnings-growth ratio of 0.30 and a beta of 1.67. The company has a debt-to-equity ratio of 448.50, a current ratio of 1.07 and a quick ratio of 0.25.

AutoCanada (TSE:ACQ) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.21 earnings per share for the quarter. The company had revenue of C$1.19 billion for the quarter. AutoCanada had a net margin of 0.51% and a return on equity of 5.29%. Analysts predict that AutoCanada will post 2.4311927 EPS for the current fiscal year.

AutoCanada Company Profile

AutoCanada’s Canadian Dealership Operations include 64 franchised dealerships representing 23 automotive brands across eight provinces, as well as three independent used dealerships. The Company currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen vehicles. In 2024, AutoCanada’s Canadian dealerships sold approximately 85,000 new and used retail vehicles.