AutoCanada (TSE:ACQ) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• AutoCanada shares crossed above their 200-day moving average, reaching C$23.89 before closing at C$23.65, compared with the 200-day average of C$23.20.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and one rates it Buy, producing a consensus Hold rating and an average price target of C$22.57. Targets range from C$21.00 to C$27.00.
• AutoCanada reported quarterly revenue of C$1.19 billion and EPS of C$0.21, but its financial profile includes a high debt-to-equity ratio of 448.50 and a net margin of just 0.51%.

AutoCanada Inc. (TSE:ACQ - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$23.20 and traded as high as C$23.89. AutoCanada shares last traded at C$23.65, with a volume of 29,161 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on ACQ shares. ATB Cormark Capital Markets lowered their target price on shares of AutoCanada from C$22.00 to C$21.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 19th. National Bank Financial reduced their price target on AutoCanada from C$22.00 to C$21.00 and set a "sector perform" rating for the company in a research report on Monday, July 13th. BMO Capital Markets downgraded AutoCanada from an "outperform" rating to a "hold" rating and set a C$24.00 price target for the company. in a research note on Monday, July 20th. Royal Bank Of Canada increased their price objective on AutoCanada from C$18.00 to C$23.00 and gave the company a "sector perform" rating in a report on Tuesday, May 26th. Finally, Acumen Capital raised their price objective 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. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, AutoCanada currently has a consensus rating of "Hold" and an average target price of C$22.57.

AutoCanada Trading Down 0.8%

The company has a current ratio of 1.07, a quick ratio of 0.25 and a debt-to-equity ratio of 448.50. The company's fifty day moving average is C$22.28 and its 200-day moving average is C$23.20. The firm has a market capitalization of C$544.68 million, a P/E ratio of 22.74, a P/E/G ratio of 0.30 and a beta of 1.70.

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

AutoCanada Company Profile

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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