AutoCanada (TSE:ACQ) Share Price Crosses Above 200 Day Moving Average – Here’s Why

AutoCanada Inc. (TSE:ACQ) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 changing hands.

Analyst Ratings Changes

Several research analysts recently weighed in 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. BMO Capital Markets lowered their price objective on AutoCanada from C$19.50 to C$19.00 in a research report on Thursday, November 14th. CIBC raised their target price on AutoCanada from C$15.00 to C$16.00 and gave the stock an “underperform” rating in a research note on Monday, January 13th. Finally, National Bankshares upgraded AutoCanada from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$17.00 to C$21.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$19.56.

AutoCanada Stock Performance

The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03. The firm has a market capitalization of C$450.12 million, a price-to-earnings ratio of -12.36, a PEG ratio of 0.30 and a beta of 2.54. The firm’s 50 day simple moving average is C$18.02 and its 200 day simple 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.