AutoCanada (TSE:ACQ) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

AutoCanada Inc. (TSE:ACQ)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.22 and traded as high as C$19.20. AutoCanada shares last traded at C$18.74, with a volume of 10,558 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on ACQ. Canaccord Genuity Group raised their price target on AutoCanada from C$17.00 to C$22.00 and gave the stock a “strong-buy” rating in a research report on Thursday, March 20th. CIBC cut their price target on shares of AutoCanada from C$17.00 to C$15.00 and set an “underperform” rating on the stock in a research note on Thursday, March 20th. ATB Capital increased their price objective on shares of AutoCanada from C$18.00 to C$18.50 and gave the stock a “sector perform” rating in a research report on Thursday, March 27th. Finally, Acumen Capital upgraded shares of AutoCanada from a “hold” rating to a “speculative buy” rating and raised their price objective for the stock from C$20.00 to C$22.50 in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$19.19.

AutoCanada Stock Performance

The stock’s 50-day moving average price is C$16.15 and its 200 day moving average price is C$17.22. The firm has a market cap of C$436.11 million, a P/E ratio of -8.65, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25.

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.