AutoCanada (TSE:ACQ) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

AutoCanada Inc. (TSE:ACQ)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$22.16 and traded as high as C$22.64. AutoCanada shares last traded at C$22.33, with a volume of 27,579 shares changing hands.

Wall Street Analyst Weigh In

ACQ has been the subject of several analyst reports. ATB Cormark Capital Markets cut their price target on AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a report on Tuesday, May 19th. BMO Capital Markets raised their price target on AutoCanada from C$24.00 to C$27.00 in a research note on Friday, August 14th. Royal Bank Of Canada lifted their price target on AutoCanada from C$23.00 to C$24.00 and gave the company a “sector perform” rating in a report on Tuesday, August 18th. Finally, National Bank Financial upped their price objective on shares of AutoCanada from C$21.00 to C$23.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$23.43.

AutoCanada Trading Up 2.9%

The firm has a market capitalization of C$528.26 million, a price-to-earnings ratio of 18.09, a P/E/G ratio of 0.30 and a beta of 1.84. The company has a debt-to-equity ratio of 418.22, a quick ratio of 0.25 and a current ratio of 1.05. The business has a fifty day moving average price of C$22.76 and a 200 day moving average price of C$22.17.

AutoCanada (TSE:ACQ) last issued its earnings results on Wednesday, August 12th. The company reported C$0.97 earnings per share for the quarter. The firm had revenue of C$1.42 billion for the quarter. AutoCanada had a return on equity of 6.64% and a net margin of 0.63%. As a group, equities analysts forecast that AutoCanada Inc. will post 2.4311927 earnings per share for the current year.

AutoCanada Company Profile

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.