National Bank Financial Upgrades AutoCanada (TSE:ACQ) to Strong-Buy

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.

ACQ has been the subject of a number of other research reports. Canaccord Genuity Group lowered their price objective 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. ATB Capital decreased their target price on shares of AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. Cormark decreased their target price on shares of AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. Royal Bank of Canada decreased their target price on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Finally, Acumen Capital decreased their target price on shares of AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$19.44.

AutoCanada Price Performance

Shares of TSE:ACQ opened at C$18.90 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38. AutoCanada has a fifty-two week low of C$13.75 and a fifty-two week high of C$27.44. The firm has a 50-day simple moving average of C$15.56 and a 200 day simple moving average of C$17.70. The company has a market cap of C$438.29 million, a PE ratio of -12.04, a P/E/G ratio of 0.30 and a beta of 2.54.

Insider Activity

In related news, insider EdgePoint Investment Group Inc. acquired 18,200 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of C$14.88 per share, for a total transaction of C$270,901.54. Insiders purchased 119,500 shares of company stock worth $1,779,856 over the last three months. 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.