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

Shares of AutoCanada Inc. (TSE:ACQ) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.91 and traded as high as C$18.32. AutoCanada shares last traded at C$18.32, with a volume of 20,656 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. CIBC boosted their price objective on shares of AutoCanada from C$16.00 to C$17.00 in a research note on Monday, February 10th. National Bankshares raised shares of AutoCanada from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$17.00 to C$21.00 in a research report on Thursday, November 14th. Finally, BMO Capital Markets cut their price objective on shares of AutoCanada from C$19.50 to C$19.00 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$19.67.

AutoCanada Price Performance

The company has a market cap of C$426.34 million, a price-to-earnings ratio of -8.45, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54. The company has a fifty day moving average price of C$18.24 and a two-hundred day moving average price of C$16.91.

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.