Shares of AutoCanada Inc. (TSE:ACQ - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$18.17 and traded as high as C$22.39. AutoCanada shares last traded at C$22.06, with a volume of 8,254 shares.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on ACQ. Acumen Capital raised AutoCanada from a "hold" rating to a "speculative buy" rating and raised their price objective for the stock from C$20.00 to C$22.50 in a report on Friday, March 21st. ATB Capital increased their target price on shares of AutoCanada from C$18.00 to C$18.50 and gave the stock a "sector perform" rating in a research note on Thursday, March 27th. Canaccord Genuity Group increased their target price on shares of AutoCanada from C$22.00 to C$24.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. CIBC upgraded shares of AutoCanada from an "underperform" rating to a "neutral" rating and increased their target price for the stock from C$15.00 to C$23.00 in a research note on Thursday, May 22nd. Finally, Cibc World Mkts upgraded shares of AutoCanada from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 15th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, AutoCanada presently has an average rating of "Moderate Buy" and a consensus target price of C$20.31.
View Our Latest Stock Analysis on AutoCanada
AutoCanada Stock Performance
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 stock has a market cap of C$508.48 million, a price-to-earnings ratio of -10.08, a P/E/G ratio of 0.30 and a beta of 2.54. The stock's 50-day moving average is C$19.80 and its 200 day moving average is C$18.20.
Insider Activity at AutoCanada
In other news, insider EdgePoint Investment Group Inc. acquired 4,880 shares of AutoCanada stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average price of C$19.78 per share, for a total transaction of C$96,548.36. Insiders bought a total of 88,280 shares of company stock worth $1,809,060 over the last 90 days. Company insiders own 4.90% of the company's stock.
AutoCanada Company Profile
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AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships and related business. The company offers a range of automotive products and services, including new and used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, and extended service contracts; and vehicle protection, after-market products, and auction services.
Further Reading
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