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

AutoCanada Inc. (TSE:ACQ)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.95 and traded as high as C$33.01. AutoCanada shares last traded at C$32.10, with a volume of 38,953 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on ACQ shares. BMO Capital Markets raised AutoCanada from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$20.00 to C$40.00 in a report on Thursday, August 14th. Acumen Capital boosted their price target on AutoCanada from C$30.50 to C$39.00 and gave the stock a “speculative buy” rating in a report on Thursday, August 14th. Canaccord Genuity Group boosted their price target on AutoCanada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a report on Monday, July 14th. CIBC raised AutoCanada from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from C$32.50 to C$38.00 in a report on Tuesday, August 26th. Finally, National Bankshares boosted their price objective on AutoCanada from C$28.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$33.71.

AutoCanada Price Performance

The firm has a market cap of C$743.12 million, a P/E ratio of -39.63, a price-to-earnings-growth ratio of 0.30 and a beta of 2.48. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54. The business has a 50-day moving average of C$31.63 and a two-hundred day moving average of C$23.95.

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.