AutoCanada (TSE:ACQ) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• AutoCanada shares crossed above their 200-day moving average of C$23.13, reaching C$23.20 before closing at C$22.90 on trading volume of 56,444 shares.
• Analyst sentiment remains cautious: one analyst rates the stock Buy while six rate it Hold, resulting in a consensus rating of Hold and an average price target of C$22.57.
• AutoCanada reported quarterly EPS of C$0.21 on revenue of C$1.19 billion, but profitability was modest, with a 0.51% net margin and 5.29% return on equity; the company also carries substantial leverage, with a debt-to-equity ratio of 448.50.

AutoCanada Inc. (TSE:ACQ - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$23.13 and traded as high as C$23.20. AutoCanada shares last traded at C$22.90, with a volume of 56,444 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ACQ. National Bank Financial reduced their price objective on AutoCanada from C$22.00 to C$21.00 and set a "sector perform" rating on the stock in a report on Monday, July 13th. Acumen Capital lifted their target price on AutoCanada from C$25.00 to C$27.00 and gave the company a "speculative buy" rating in a research note on Thursday, May 14th. BMO Capital Markets downgraded AutoCanada from an "outperform" rating to a "hold" rating and set a C$24.00 target price for the company. in a research report on Monday, July 20th. Royal Bank Of Canada upped their price target on AutoCanada from C$18.00 to C$23.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 26th. Finally, ATB Cormark Capital Markets decreased their price target on AutoCanada from C$22.00 to C$21.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$22.57.

AutoCanada Trading Down 1.7%

The business's 50 day simple moving average is C$22.49 and its 200-day simple moving average is C$23.13. The company has a debt-to-equity ratio of 448.50, a current ratio of 1.07 and a quick ratio of 0.25. The stock has a market capitalization of C$527.41 million, a P/E ratio of 22.02, a PEG ratio of 0.30 and a beta of 1.70.

AutoCanada (TSE:ACQ - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported C$0.21 EPS for the quarter. The company had revenue of C$1.19 billion during the quarter. AutoCanada had a net margin of 0.51% and a return on equity of 5.29%. As a group, analysts forecast that AutoCanada Inc. will post 2.4311927 EPS for the current year.

About AutoCanada

AutoCanada's Canadian Dealership Operations include 64 franchised dealerships representing 23 automotive brands across eight provinces, as well as three independent used dealerships. The Company currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen vehicles. In 2024, AutoCanada's Canadian dealerships sold approximately 85,000 new and used retail vehicles.

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