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

AutoCanada (TSE:ACQ) was upgraded by National Bankshares from a “sector perform” rating to an “outperform” rating in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$21.00 price objective on the stock, up from their prior price objective of C$17.00. National Bankshares’ target price would indicate a potential upside of 11.11% from the company’s previous close.

ACQ has been the subject of several other research reports. Acumen Capital lowered their price objective on AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. CIBC cut their price target on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a research note on Wednesday, August 14th. Canaccord Genuity Group reduced 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 note on Wednesday, August 14th. ATB Capital decreased their price target on AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. Finally, Cormark lowered their price objective on shares of AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$19.44.

AutoCanada Stock Performance

ACQ stock opened at C$18.90 on Thursday. The company has a market cap of C$438.29 million, a P/E ratio of -12.04, a PEG ratio of 0.30 and a beta of 2.54. AutoCanada has a twelve month low of C$13.75 and a twelve month high of C$27.44. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38. The business has a fifty day moving average of C$15.56 and a 200-day moving average of C$17.74.

AutoCanada (TSE:ACQ) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). AutoCanada had a negative net margin of 0.59% and a negative return on equity of 6.62%. The company had revenue of C$1.60 billion during the quarter, compared to the consensus estimate of C$1.62 billion. As a group, equities research analysts expect that AutoCanada will post 2.4311927 EPS for the current year.

Insider Buying and Selling at AutoCanada

In other news, insider EdgePoint Investment Group Inc. purchased 18,200 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was acquired at an average price of C$14.88 per share, with a total value of C$270,901.54. Insiders have purchased a total of 119,500 shares of company stock valued at $1,779,856 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

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.