Alimentation Couche-Tard (OTCMKTS:ANCTF) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Alimentation Couche-Tard Inc. (OTCMKTS:ANCTF)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $51.97 and traded as low as $50.0501. Alimentation Couche-Tard shares last traded at $52.43, with a volume of 100,013 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on ANCTF. TD Securities restated a “buy” rating on shares of Alimentation Couche-Tard in a research note on Wednesday, November 26th. Scotiabank restated an “outperform” rating on shares of Alimentation Couche-Tard in a research report on Wednesday, November 26th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Alimentation Couche-Tard in a research report on Wednesday, September 3rd. BMO Capital Markets reiterated a “market perform” rating on shares of Alimentation Couche-Tard in a research note on Wednesday, November 26th. Finally, The Goldman Sachs Group upgraded Alimentation Couche-Tard to a “hold” rating in a research note on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Alimentation Couche-Tard Stock Performance

The firm has a 50 day simple moving average of $51.68 and a two-hundred day simple moving average of $51.97.

Alimentation Couche-Tard (OTCMKTS:ANCTF) last posted its quarterly earnings results on Monday, November 24th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $17.87 billion for the quarter, compared to analyst estimates of $17.92 billion.

About Alimentation Couche-Tard

Alimentation Couche-Tard Inc operates and licenses convenience stores in North America, Europe, and Asia. It offers cigarette products and other nicotine products, grocery items, candies and snacks, beer, wine, beverages, and fresh food offerings; road transportation fuels and electric vehicle charging solutions; and aviation fuels, as well as energy for stationary engines.