AutoCanada (TSE:ACQ) Raised 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 research report released on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on ACQ. BMO Capital Markets reduced their price objective on AutoCanada from C$19.50 to C$19.00 in a research note on Thursday. 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. CIBC reduced 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 research report on Wednesday, August 14th. ATB Capital dropped their price objective on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. Finally, National Bankshares raised AutoCanada from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$17.00 to C$21.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$19.50.

AutoCanada Stock Down 1.7 %

Shares of ACQ traded down C$0.32 during trading hours on Wednesday, reaching C$18.58. 21,753 shares of the stock traded hands, compared to its average volume of 47,775. AutoCanada has a 52 week low of C$13.75 and a 52 week high of C$27.44. The company has a market cap of C$430.87 million, a price-to-earnings ratio of -12.04, a PEG ratio of 0.30 and a beta of 2.54. The stock has a fifty day simple moving average of C$15.47 and a 200 day simple moving average of C$17.78. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38.

AutoCanada (TSE:ACQ) last posted its earnings results on Tuesday, August 13th. The company reported C($0.96) EPS for the quarter, missing the consensus estimate of C$0.34 by C($1.30). The firm 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%. On average, equities analysts forecast that AutoCanada will post 2.4311927 EPS for the current year.

Insiders Place Their Bets

In other news, insider EdgePoint Investment Group Inc. acquired 27,200 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was bought at an average cost of C$15.47 per share, for a total transaction of C$420,900.96. Insiders have purchased a total of 119,500 shares of company stock worth $1,779,856 over the last 90 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.