AutoCanada (TSE:ACQ) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shares of AutoCanada Inc. (TSE:ACQ) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$17.10 and traded as high as C$17.52. AutoCanada shares last traded at C$17.33, with a volume of 2,736 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ACQ shares. CIBC reduced their target price on AutoCanada from C$15.50 to C$15.00 in a report on Friday, November 15th. BMO Capital Markets reduced their target price on AutoCanada from C$19.50 to C$19.00 in a report on Thursday, November 14th. National Bankshares raised AutoCanada from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$17.00 to C$21.00 in a report on Thursday, November 14th. Finally, National Bank Financial raised AutoCanada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$19.44.

AutoCanada Stock Up 1.6 %

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 company has a 50-day simple moving average of C$17.26 and a two-hundred day simple moving average of C$17.10. The stock has a market cap of C$401.88 million, a P/E ratio of -11.04, a P/E/G ratio of 0.30 and a beta of 2.54.

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.