AutoCanada (TSE:ACQ) Shares Cross Above 200 Day Moving Average – Here’s Why

AutoCanada Inc. (TSE:ACQ)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$16.89 and traded as high as C$18.73. AutoCanada shares last traded at C$18.07, with a volume of 18,394 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BMO Capital Markets lowered their target price on AutoCanada from C$19.50 to C$19.00 in a research report on Thursday, November 14th. CIBC raised their target price on shares of AutoCanada from C$15.00 to C$16.00 and gave the stock an “underperform” rating in a report on Monday, January 13th. National Bank Financial raised AutoCanada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, National Bankshares upgraded AutoCanada from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$17.00 to C$21.00 in a report on Thursday, November 14th. One equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$19.56.

AutoCanada Stock Performance

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 stock has a market cap of C$419.04 million, a P/E ratio of -11.51, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The firm’s 50-day moving average is C$17.94 and its two-hundred day moving average is C$16.89.

AutoCanada Company Profile

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.