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

Key Points

• AutoCanada Inc. shares have surpassed their 200-day moving average, trading at C$27.25, significantly above the average of C$19.74.
• Analysts have recently upgraded their price targets for AutoCanada, with CIBC increasing it to C$27.50 and Canaccord Genuity raising it to C$28.00, leading to an overall average rating of "Moderate Buy."
• Insider buying activity has been notable, with insiders purchasing 88,280 shares valued at over C$1.8 million in the last three months, indicating confidence in the company's performance.

AutoCanada Inc. (TSE:ACQ - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.74 and traded as high as C$27.54. AutoCanada shares last traded at C$27.25, with a volume of 26,001 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. CIBC boosted their price objective on shares of AutoCanada from C$23.00 to C$27.50 in a research note on Thursday, July 17th. Canaccord Genuity Group upped their price target on AutoCanada from C$24.00 to C$28.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Cibc World Mkts raised AutoCanada from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Royal Bank Of Canada upped their target price on AutoCanada from C$18.00 to C$27.00 in a report on Tuesday, July 22nd. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$22.25.

AutoCanada Trading Up 4.2%

The firm's 50 day simple moving average is C$23.99 and its two-hundred day simple moving average is C$19.74. The stock has a market capitalization of C$634.15 million, a P/E ratio of -12.57, a P/E/G 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 451.54.

Insider Buying and Selling

In other news, insider EdgePoint Investment Group Inc. purchased 4,880 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of C$19.78 per share, with a total value of C$96,548.36. Over the last three months, insiders bought 88,280 shares of company stock valued at $1,809,060. 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.

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