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

Key Points

• AutoCanada Inc. shares have surpassed their 200-day moving average of C$21.43, trading at C$33.27, indicating a potential upward trend in the stock's performance.
• A range of analysts have upgraded their ratings and target prices for AutoCanada, with the average price target currently set at C$33.71, reflecting a generally positive outlook.
• Despite the positive sentiment, AutoCanada has a high debt-to-equity ratio of 451.54, raising concerns about the company's financial stability.

AutoCanada Inc. (TSE:ACQ - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.43 and traded as high as C$33.86. AutoCanada shares last traded at C$33.27, with a volume of 38,500 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on ACQ shares. Royal Bank Of Canada lowered 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 report on Friday, August 15th. National Bankshares boosted their target price on AutoCanada from C$28.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. CIBC raised AutoCanada from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from C$32.50 to C$38.00 in a research report on Tuesday, August 26th. Cibc World Mkts upgraded AutoCanada from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, ATB Capital increased their target price on AutoCanada from C$25.00 to C$32.00 and gave the company a "sector perform" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$33.71.

AutoCanada Stock Up 0.8%

The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54. The stock has a market capitalization of C$813.03 million, a P/E ratio of -43.36, a P/E/G ratio of 0.30 and a beta of 2.48. The firm's fifty day moving average is C$28.22 and its 200-day moving average is C$21.69.

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.