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

AutoCanada Inc. (TSE:ACQ)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ACQ. Royal Bank Of Canada decreased 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 report on Tuesday, January 6th. Canadian Imperial Bank of Commerce raised their target price on AutoCanada from C$30.00 to C$34.00 in a research note on Thursday, February 5th. ATB Capital dropped their price target on AutoCanada from C$30.00 to C$25.00 in a research note on Monday, November 17th. Canaccord Genuity Group increased their price objective on AutoCanada from C$36.00 to C$42.00 and gave the company a “buy” rating in a report on Monday, January 19th. Finally, National Bank Financial decreased their target price on AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, AutoCanada currently has a consensus rating of “Moderate Buy” and an average target price of C$34.04.

AutoCanada Price Performance

The firm has a 50-day simple moving average of C$25.18 and a two-hundred day simple moving average of C$27.19. The company has a market capitalization of C$616.51 million, a price-to-earnings ratio of -66.73, a P/E/G ratio of 0.30 and a beta of 2.08. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54.

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

About AutoCanada

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.