AutoCanada (ACQ) Stock Rating Upgraded by Canaccord Genuity

Canaccord Genuity upgraded shares of AutoCanada (TSE:ACQ) from a hold rating to a buy rating in a research note published on Friday. They currently have C$27.00 price objective on the stock, up from their prior price objective of C$25.00.

Other equities research analysts have also recently issued reports about the stock. CIBC cut their price target on shares of AutoCanada from C$29.00 to C$26.00 in a research report on Monday, March 19th. Royal Bank of Canada raised shares of AutoCanada from a sector perform rating to an outperform rating and boosted their price target for the stock from C$26.00 to C$27.00 in a research report on Monday, March 19th.

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Shares of AutoCanada (ACQ) opened at C$22.21 on Friday. The company has a market cap of $565.12, a price-to-earnings ratio of 11.22 and a beta of 2.41. AutoCanada has a 52-week low of C$17.46 and a 52-week high of C$26.11.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Thursday, March 15th. The company reported C$0.33 EPS for the quarter. AutoCanada had a net margin of 1.79% and a return on equity of 10.35%. The business had revenue of C$733.06 million for the quarter, compared to analysts’ expectations of C$720.78 million.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.40 annualized dividend and a yield of 1.80%. AutoCanada’s dividend payout ratio (DPR) is presently 20.20%.

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AutoCanada Company Profile

AutoCanada Inc (AutoCanada) is a Canada-based multi-location automobile dealership company. The Company offers a diversified range of automotive products and services, including new vehicles, used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, extended service contracts, vehicle protection products and other after-market products.

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