AutoCanada (TSE:ACQ) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

AutoCanada Inc. (TSE:ACQ) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$27.19 and traded as high as C$29.80. AutoCanada shares last traded at C$26.69, with a volume of 73,982 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. ATB Cormark Capital Markets cut their price target on AutoCanada from C$30.00 to C$25.00 in a research note on Monday, November 17th. Canadian Imperial Bank of Commerce boosted their price objective on AutoCanada from C$30.00 to C$34.00 in a report on Thursday, February 5th. Acumen Capital upped their target price on shares of AutoCanada from C$35.50 to C$39.25 and gave the company a “speculative buy” rating in a research report on Tuesday, January 27th. Canaccord Genuity Group raised their target price on shares of AutoCanada from C$36.00 to C$42.00 and gave the company a “buy” rating in a research note on Monday, January 19th. Finally, Royal Bank Of Canada dropped their price target on shares of AutoCanada from C$30.00 to C$29.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, AutoCanada currently has a consensus rating of “Moderate Buy” and an average price target of C$34.04.

AutoCanada Stock Performance

The stock has a market cap of C$613.97 million, a P/E ratio of -66.45, a PEG ratio of 0.30 and a beta of 2.08. The stock has a fifty day simple moving average of C$25.28 and a 200-day simple moving average of C$27.19. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results on Thursday, November 13th. The company reported C$0.66 earnings per share for the quarter. AutoCanada had a negative net margin of 0.82% and a negative return on equity of 9.79%. The business had revenue of C$1.20 billion for the quarter. Equities analysts expect that AutoCanada Inc. will post 2.4311927 earnings per share for the current fiscal year.

AutoCanada Company Profile

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.