AutoCanada (TSE:ACQ) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

AutoCanada Inc. (TSE:ACQ) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$23.29 and traded as low as C$22.41. AutoCanada shares last traded at C$23.22, with a volume of 25,253 shares traded.

Analysts Set New Price Targets

Several analysts have commented on the stock. ATB Cormark Capital Markets lowered their price objective on shares of AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada increased their target price on shares of AutoCanada from C$18.00 to C$23.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 26th. Canaccord Genuity Group cut shares of AutoCanada from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$42.00 to C$22.00 in a report on Thursday, March 19th. Canadian Imperial Bank of Commerce downgraded AutoCanada from an “outperform” rating to a “hold” rating and dropped their price objective for the company from C$34.00 to C$20.00 in a research note on Friday, March 20th. Finally, National Bank Financial reduced their price objective on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$22.71.

AutoCanada Trading Down 0.4%

The firm’s 50-day moving average price is C$22.15 and its 200-day moving average price is C$23.29. The company has a quick ratio of 0.25, a current ratio of 1.07 and a debt-to-equity ratio of 448.50. The company has a market cap of C$527.18 million, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 0.30 and a beta of 1.70.

AutoCanada (TSE:ACQ) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.21 EPS for the quarter. AutoCanada had a net margin of 0.51% and a return on equity of 5.29%. The company had revenue of C$1.19 billion during the quarter. As a group, equities research analysts expect that AutoCanada Inc. will post 2.4311927 earnings per share for the current fiscal year.

About AutoCanada

AutoCanada’s Canadian Dealership Operations include 64 franchised dealerships representing 23 automotive brands across eight provinces, as well as three independent used dealerships. The Company currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen vehicles. In 2024, AutoCanada’s Canadian dealerships sold approximately 85,000 new and used retail vehicles.