AutoCanada (TSE:ACQ) Rating Increased to Strong-Buy at National Bank Financial

National Bank Financial upgraded shares of AutoCanada (TSE:ACQ) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently commented on ACQ. ATB Capital dropped their price target on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. Canaccord Genuity Group dropped their target price on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. National Bankshares upgraded shares of AutoCanada from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$17.00 to C$21.00 in a research report on Thursday. BMO Capital Markets lowered their price objective on shares of AutoCanada from C$19.50 to C$19.00 in a research report on Thursday. Finally, Acumen Capital decreased their price target on AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$19.50.

AutoCanada Stock Performance

TSE:ACQ traded down C$0.32 during mid-day trading on Wednesday, hitting C$18.58. 21,753 shares of the stock were exchanged, compared to its average volume of 47,775. The firm’s 50-day simple moving average is C$15.47 and its 200 day simple moving average is C$17.78. The stock has a market capitalization of C$430.87 million, a price-to-earnings ratio of -12.04, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. AutoCanada has a fifty-two week low of C$13.75 and a fifty-two week high of C$27.44. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03.

AutoCanada (TSE:ACQ) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.96) EPS for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). The business had revenue of C$1.60 billion for the quarter, compared to the consensus estimate 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, equities analysts anticipate that AutoCanada will post 2.4311927 EPS for the current fiscal year.

Insider Activity at AutoCanada

In other news, insider EdgePoint Investment Group Inc. purchased 27,200 shares of the business’s stock in a transaction on Friday, September 20th. The shares were acquired at an average price of C$15.47 per share, for a total transaction of C$420,900.96. Insiders have purchased 119,500 shares of company stock worth $1,779,856 in the last quarter. Company insiders own 4.90% of the company’s stock.

AutoCanada Company Profile

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.