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

Shares of AutoCanada Inc. (TSE:ACQ) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$17.21 and traded as high as C$17.52. AutoCanada shares last traded at C$17.50, with a volume of 2,590 shares.

Analyst Ratings Changes

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

AutoCanada Stock Up 1.1 %

The firm has a 50-day simple moving average of C$17.11 and a 200 day simple moving average of C$17.21. The company has a market capitalization of C$405.83 million, a PE ratio of -11.15, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25.

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.