AutoCanada (TSE:ACQ) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• AutoCanada's stock recently surpassed its 200-day moving average, currently trading at C$32.10 compared to a 200-day average of C$23.95.
• Analysts have mixed opinions, with Royal Bank of Canada lowering their price target to C$23.00 while BMO Capital Markets raised it significantly to C$40.00, reflecting varied confidence in the company’s performance.
• The stock has a market capitalization of C$743.12 million and a high debt-to-equity ratio of 451.54, which may be a concern for potential investors.

AutoCanada Inc. (TSE:ACQ - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.95 and traded as high as C$33.01. AutoCanada shares last traded at C$32.10, with a volume of 38,953 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACQ. Royal Bank Of Canada reduced their price target on AutoCanada from C$27.00 to C$23.00 and set a "sector perform" rating for the company in a research note on Friday, August 15th. BMO Capital Markets upgraded AutoCanada from a "hold" rating to an "outperform" rating and boosted their price target for the company from C$20.00 to C$40.00 in a research note on Thursday, August 14th. National Bankshares boosted their price target on AutoCanada from C$28.00 to C$36.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Acumen Capital boosted their price target on AutoCanada from C$30.50 to C$39.00 and gave the company a "speculative buy" rating in a research note on Thursday, August 14th. Finally, CIBC raised AutoCanada from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from C$32.50 to C$38.00 in a report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$33.71.

AutoCanada Price Performance

The stock has a market capitalization of C$743.12 million, a price-to-earnings ratio of -39.63, a PEG ratio of 0.30 and a beta of 2.48. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03. The company has a fifty day simple moving average of C$31.63 and a two-hundred day simple moving average of C$23.95.

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.

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