AutoCanada (TSE:ACQ) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

AutoCanada Inc. (TSE:ACQ) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$17.39 and traded as high as C$18.60. AutoCanada shares last traded at C$18.40, with a volume of 14,887 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACQ. BMO Capital Markets cut their target price on shares of AutoCanada from C$19.50 to C$19.00 in a research note on Thursday, November 14th. National Bank Financial raised shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. National Bankshares raised shares of AutoCanada from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$17.00 to C$21.00 in a research note on Thursday, November 14th. Finally, CIBC reduced their price target on AutoCanada from C$15.50 to C$15.00 in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AutoCanada presently has an average rating of “Hold” and an average price target of C$19.44.

AutoCanada Stock Down 1.1 %

The stock has a market cap of C$426.70 million, a price-to-earnings ratio of -11.72, a PEG 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. The stock has a fifty day moving average of C$16.88 and a two-hundred day moving average of C$17.39.

Insider Activity

In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 27,200 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was bought at an average price of C$15.47 per share, with a total value of C$420,900.96. Corporate insiders own 4.90% of the company’s stock.

About AutoCanada

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.