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

Key Points

• AutoCanada's share price has recently surpassed its 200-day moving average, trading at C$31.32, which reflects a significant increase compared to its prior average of C$20.15.
• A number of analysts have raised their price targets for AutoCanada, with the most optimistic being Acumen Capital, increasing it to C$39.00 and giving the stock a "speculative buy" rating.
• Insiders have shown confidence in the company, purchasing a total of 7,440 shares worth approximately C$151,743 over the last three months.

Shares of AutoCanada Inc. (TSE:ACQ - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$20.15 and traded as high as C$33.87. AutoCanada shares last traded at C$31.32, with a volume of 205,389 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on ACQ shares. BMO Capital Markets upgraded shares of AutoCanada from a "market perform" rating to an "outperform" rating and increased their target price for the company from C$20.00 to C$40.00 in a report on Thursday, August 14th. Royal Bank Of Canada decreased their price objective 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. Cibc World Mkts raised shares of AutoCanada from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 15th. Acumen Capital upped their target price on AutoCanada from C$30.50 to C$39.00 and gave the company a "speculative buy" rating in a report on Thursday, August 14th. Finally, National Bankshares increased their price target on AutoCanada from C$28.00 to C$36.00 and gave the company an "outperform" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$32.21.

AutoCanada Trading Down 2.1%

The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25. The firm has a fifty day simple moving average of C$25.16 and a two-hundred day simple moving average of C$20.32. The firm has a market capitalization of C$737.24 million, a P/E ratio of -14.62, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54.

Insider Activity

In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 4,880 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average price of C$19.78 per share, with a total value of C$96,548.36. Insiders have bought 7,440 shares of company stock valued at $151,743 over the last quarter. Corporate 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.