AutoCanada (TSE:ACQ) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

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$17.10 and traded as high as C$17.52. AutoCanada shares last traded at C$17.33, with a volume of 2,736 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently commented on ACQ shares. CIBC decreased their price objective on shares of AutoCanada from C$15.50 to C$15.00 in a report on Friday, November 15th. National Bank Financial upgraded AutoCanada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. National Bankshares raised AutoCanada from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$17.00 to C$21.00 in a research note on Thursday, November 14th. Finally, BMO Capital Markets lowered their target price on 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$19.44.

AutoCanada Price Performance

The company has a 50 day moving average of C$17.31 and a 200 day moving average of C$17.11. The stock has a market capitalization of C$412.32 million, a price-to-earnings ratio of -11.32, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38.

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.