AutoCanada (TSE:ACQ) Stock Price Passes Above 200-Day Moving Average - Should You 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.

Shares of AutoCanada Inc. (TSE:ACQ - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

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

AutoCanada Price Performance

The firm has a 50 day moving average of C$24.25 and a 200-day moving average of C$19.88. The company has a market cap of C$683.72 million, a P/E ratio of -13.56, a P/E/G 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 Transactions at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 4,880 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were bought 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 purchased 88,280 shares of company stock worth $1,809,060. 4.90% of the stock is currently owned by company insiders.

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.