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

Shares of AutoCanada Inc. (TSE:ACQ) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.22 and traded as high as C$19.20. AutoCanada shares last traded at C$18.74, with a volume of 10,558 shares trading hands.

Analyst Upgrades and Downgrades

ACQ has been the topic of several recent analyst reports. ATB Capital boosted their price target on AutoCanada from C$18.00 to C$18.50 and gave the stock a “sector perform” rating in a research report on Thursday, March 27th. CIBC lowered their target price on shares of AutoCanada from C$17.00 to C$15.00 and set an “underperform” rating on the stock in a report on Thursday, March 20th. Acumen Capital raised shares of AutoCanada from a “hold” rating to a “speculative buy” rating and upped their price target for the stock from C$20.00 to C$22.50 in a research report on Friday, March 21st. Finally, Canaccord Genuity Group lifted their price objective on shares of AutoCanada from C$17.00 to C$22.00 and gave the company a “strong-buy” rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$19.19.

AutoCanada Stock Performance

The stock has a market capitalization of C$436.11 million, a P/E ratio of -8.65, a PEG ratio of 0.30 and a beta of 2.54. The stock’s 50-day simple moving average is C$16.15 and its 200 day simple moving average is C$17.22. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25.

About AutoCanada

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.