AutoCanada (TSE:ACQ) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• AutoCanada Inc. has seen its shares cross above the 200-day moving average, trading recently at C$26.99 after reaching a high of C$27.27.
• Various brokerages have updated their target prices for AutoCanada, with National Bankshares raising it from C$28.00 to C$36.00 and Canaccord Genuity increasing it from C$24.00 to C$28.00.
• The company has a market capitalization of C$624.82 million and currently holds an average rating of "Buy" with an average target price of C$33.71 from analysts.

Shares of AutoCanada Inc. (TSE:ACQ - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$25.01 and traded as high as C$27.27. AutoCanada shares last traded at C$26.99, with a volume of 17,679 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on ACQ. National Bankshares boosted their target price on shares of AutoCanada from C$28.00 to C$36.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. CIBC upgraded shares of AutoCanada from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from C$32.50 to C$38.00 in a research note on Tuesday, August 26th. Royal Bank Of Canada lowered their target price on shares of AutoCanada from C$27.00 to C$23.00 and set a "sector perform" rating for the company in a research note on Friday, August 15th. Canaccord Genuity Group boosted 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 note on Monday, July 14th. Finally, BMO Capital Markets upgraded shares of AutoCanada from a "hold" rating to an "outperform" rating and boosted their target price for the stock from C$20.00 to C$40.00 in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of C$33.71.

AutoCanada Trading Down 0.4%

The stock has a market capitalization of C$624.82 million, a PE ratio of -33.32, a PEG ratio of 0.30 and a beta of 2.18. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54. The business's 50-day moving average is C$32.01 and its two-hundred day moving average is C$25.01.

AutoCanada Company Profile

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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