AutoCanada (TSE:ACQ) Share Price Crosses Above 200 Day Moving Average - Here's Why

AutoCanada Inc. (TSE:ACQ - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$18.04 and traded as high as C$22.00. AutoCanada shares last traded at C$21.50, with a volume of 20,468 shares.

Wall Street Analyst Weigh In

ACQ has been the topic of a number of research analyst reports. Acumen Capital raised AutoCanada from a "hold" rating to a "speculative buy" rating and increased their target price for the stock from C$20.00 to C$22.50 in a report on Friday, March 21st. Cibc World Mkts raised AutoCanada from a "strong sell" rating to a "hold" rating in a report on Thursday, May 15th. ATB Capital increased their target price on AutoCanada from C$18.00 to C$18.50 and gave the stock a "sector perform" rating in a report on Thursday, March 27th. CIBC raised AutoCanada from an "underperform" rating to a "neutral" rating and increased their target price for the stock from C$15.00 to C$23.00 in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group increased their target price on AutoCanada from C$22.00 to C$24.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$20.31.

AutoCanada Price Performance

The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54. The company has a market capitalization of C$506.16 million, a P/E ratio of -10.04, a PEG ratio of 0.30 and a beta of 2.54. The business has a 50 day simple moving average of C$19.19 and a 200-day simple moving average of C$18.10.

Insider Buying and Selling at AutoCanada

In related news, insider EdgePoint Investment Group Inc. bought 4,880 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were bought at an average cost of C$19.78 per share, for a total transaction of C$96,548.36. Over the last three months, insiders have purchased 87,025 shares of company stock worth $1,781,251. 4.90% of the stock is owned by insiders.

AutoCanada Company Profile

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships and related business. The company offers a range of automotive products and services, including new and used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, and extended service contracts; and vehicle protection, after-market products, and auction services.