Alimentation Couche-Tard (OTCMKTS:ANCTF) Shares Break Below Two Hundred Day Moving Average – Should You Sell?

Alimentation Couche-Tard Inc. (OTCMKTS:ANCTF) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $59.67 and traded as low as $59.17. Alimentation Couche-Tard shares last traded at $59.3585, with a volume of 60,786 shares changing hands.

Wall Street Analysts Forecast Growth

ANCTF has been the topic of a number of recent analyst reports. Scotiabank reissued an “outperform” rating on shares of Alimentation Couche-Tard in a report on Wednesday, August 19th. BMO Capital Markets raised shares of Alimentation Couche-Tard from a “market perform” rating to an “outperform” rating in a research note on Tuesday. TD Securities reaffirmed a “buy” rating on shares of Alimentation Couche-Tard in a report on Tuesday, August 4th. Finally, Canadian Imperial Bank of Commerce assumed coverage on shares of Alimentation Couche-Tard in a research note on Thursday. They issued a “neutral” rating on the stock. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Alimentation Couche-Tard Price Performance

The company’s 50-day moving average is $58.31 and its two-hundred day moving average is $59.70.

Alimentation Couche-Tard (OTCMKTS:ANCTF) last announced its earnings results on Wednesday, September 2nd. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $20.86 billion.

Alimentation Couche-Tard Company Profile

Alimentation Couche-Tard Inc is a Canadian operator of convenience stores and fuel stations headquartered in Laval, Quebec. The company serves consumers through convenience retail locations offering packaged food, beverages, tobacco products, prepared meals, and other everyday essentials, along with fuel and related services.

Most of its locations operate under the Couche-Tard and Circle K banners. The company also provides services such as car washes, foodservice and, in selected markets, electric-vehicle charging.