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

Key Points

• AutoCanada's stock (TSE:ACQ) recently crossed above its two hundred-day moving average of C$23.28, reaching a high of C$33.61 before closing at C$32.93.
• Multiple analyst upgrades feature prominently, with BMO Capital Markets increasing their price target to C$40.00 and categorizing it as "outperform." The stock currently has an average rating of "Buy" and an average target price of C$33.71.
• AutoCanada operates a network of car dealerships in Canada, representing a variety of vehicle brands and offering services like maintenance and customer financing.

AutoCanada Inc. (TSE:ACQ - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$23.28 and traded as high as C$33.61. AutoCanada shares last traded at C$32.93, with a volume of 35,231 shares traded.

Analyst Ratings Changes

ACQ has been the subject of several analyst reports. Cibc World Mkts upgraded AutoCanada from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. ATB Capital boosted their target price on AutoCanada from C$25.00 to C$32.00 and gave the company a "sector perform" rating in a research note on Thursday, August 14th. Canaccord Genuity Group upped their price objective on AutoCanada from C$24.00 to C$28.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada dropped their price target on AutoCanada from C$27.00 to C$23.00 and set a "sector perform" rating on the stock in a research note on Friday, August 15th. Finally, BMO Capital Markets upgraded AutoCanada from a "hold" rating to an "outperform" rating and increased their price target for the company from C$20.00 to C$40.00 in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$33.71.

AutoCanada Stock Down 2.8%

The firm has a 50 day moving average of C$31.19 and a two-hundred day moving average of C$23.28. The firm has a market capitalization of C$762.33 million, a price-to-earnings ratio of -40.65, a price-to-earnings-growth ratio of 0.30 and a beta of 2.48. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54.

AutoCanada Company Profile

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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