AutoCanada (TSE:ACQ) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Shares of AutoCanada Inc. (TSE:ACQ - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$18.55 and traded as high as C$25.39. AutoCanada shares last traded at C$24.95, with a volume of 31,406 shares.

Analysts Set New Price Targets

ACQ has been the subject of several recent research reports. CIBC boosted their price objective on AutoCanada from C$23.00 to C$27.50 in a report on Thursday. Acumen Capital raised AutoCanada from a "hold" rating to a "speculative buy" rating and boosted their price objective for the stock from C$20.00 to C$22.50 in a research report on Friday, March 21st. Cibc World Mkts raised AutoCanada from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 15th. Canaccord Genuity Group increased their target price on shares of AutoCanada from C$24.00 to C$28.00 and gave the stock a "buy" rating in a research report on Monday. Finally, ATB Capital boosted their price target on shares of AutoCanada from C$18.00 to C$18.50 and gave the company a "sector perform" rating in a research report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AutoCanada presently has an average rating of "Moderate Buy" and a consensus price target of C$21.25.

AutoCanada Price Performance

The business has a fifty day moving average of C$21.96 and a 200-day moving average of C$18.78. The firm has a market cap of C$675.34 million, a PE ratio of -13.39, a PEG ratio of 0.30 and a beta of 2.54. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54.

Insider Buying and Selling at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 4,880 shares of the stock in a transaction on Wednesday, May 21st. The shares were purchased at an average price of C$19.78 per share, with a total value of C$96,548.36. Over the last 90 days, insiders bought 88,280 shares of company stock valued at $1,809,060. Company insiders own 4.90% of the company's stock.

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.