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

Key Points

• AutoCanada's share price has recently surpassed its 200-day moving average, reaching C$34.98, with a high of C$35.21 during trading.
• Equities analysts have upgraded AutoCanada's ratings, with multiple firms raising their target prices, including CIBC and BMO Capital Markets, indicating a shift in market sentiment towards a strong-buy outlook.
• As of now, AutoCanada holds a market cap of C$809.79 million, alongside mixed financial metrics such as a P/E ratio of -43.19 and a high debt-to-equity ratio of 451.54.

AutoCanada Inc. (TSE:ACQ - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.10 and traded as high as C$35.21. AutoCanada shares last traded at C$34.98, with a volume of 56,683 shares traded.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cibc World Mkts raised AutoCanada from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. CIBC raised AutoCanada from a "neutral" rating to an "outperform" rating and upped their target price for the stock from C$32.50 to C$38.00 in a research report on Tuesday, August 26th. Acumen Capital upped their target price on AutoCanada from C$30.50 to C$39.00 and gave the stock a "speculative buy" rating in a research report on Thursday, August 14th. BMO Capital Markets raised AutoCanada from a "hold" rating to an "outperform" rating and upped their target price for the stock from C$20.00 to C$40.00 in a research report on Thursday, August 14th. Finally, Canaccord Genuity Group upped their target price on AutoCanada from C$24.00 to C$28.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AutoCanada has a consensus rating of "Buy" and a consensus target price of C$33.71.

AutoCanada Price Performance

The stock's 50-day moving average is C$29.23 and its 200-day moving average is C$22.10. The firm has a market cap of C$809.79 million, a P/E ratio of -43.19, a price-to-earnings-growth ratio of 0.30 and a beta of 2.48. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.