AutoCanada (TSE:ACQ) Upgraded at National Bankshares

AutoCanada (TSE:ACQ) was upgraded by stock analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a report released on Thursday,BayStreet.CA reports. The firm presently has a C$21.00 price target on the stock, up from their previous price target of C$17.00. National Bankshares’ target price would indicate a potential upside of 11.11% from the stock’s current price.

Several other analysts have also recently commented on the company. BMO Capital Markets decreased their target price on shares of AutoCanada from C$21.00 to C$19.50 and set a “market perform” rating on the stock in a research note on Wednesday, August 14th. Acumen Capital dropped their price target on shares of AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. Royal Bank of Canada decreased their price objective on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. CIBC dropped their target price on shares of AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a report on Wednesday, August 14th. Finally, ATB Capital lowered their price target on AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$19.50.

AutoCanada Stock Performance

TSE ACQ traded up C$3.78 on Thursday, reaching C$18.90. 158,670 shares of the company’s stock traded hands, compared to its average volume of 47,590. The stock has a 50 day moving average price of C$15.37 and a 200-day moving average price of C$17.77. The firm has a market cap of C$438.29 million, a price-to-earnings ratio of -12.10, a P/E/G ratio of 0.30 and a beta of 2.54. 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 has a fifty-two week low of C$13.75 and a fifty-two week high of C$27.44.

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

Insider Buying and Selling

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 27,200 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of C$15.47 per share, for a total transaction of C$420,900.96. Insiders bought 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.