Alimentation Couche-Tard (OTCMKTS:ANCTF) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Alimentation Couche-Tard Inc. (OTCMKTS:ANCTF) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $60.81 and traded as high as $62.9425. Alimentation Couche-Tard shares last traded at $62.63, with a volume of 119,243 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ANCTF shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Alimentation Couche-Tard in a research note on Wednesday, June 24th. Royal Bank Of Canada restated an “outperform” rating on shares of Alimentation Couche-Tard in a research note on Tuesday, June 23rd. Scotiabank reaffirmed an “outperform” rating on shares of Alimentation Couche-Tard in a report on Thursday, June 11th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Alimentation Couche-Tard in a research note on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Alimentation Couche-Tard currently has an average rating of “Moderate Buy”.

Alimentation Couche-Tard Stock Down 1.4%

The stock has a 50 day simple moving average of $60.81 and a two-hundred day simple moving average of $58.53.

Alimentation Couche-Tard (OTCMKTS:ANCTF) last announced its quarterly earnings results on Monday, June 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. The business had revenue of $19.49 billion for the quarter, compared to analysts’ expectations of $18.51 billion.

About Alimentation Couche-Tard

Alimentation Couche-Tard is a Canadian multinational operator of convenience stores and fuel service stations. Headquartered in Laval, Quebec, the company manages a broad network of outlets offering convenience products, fresh food offerings and fuel under a variety of brand names. Its retail sites typically feature grab-and-go snacks, beverages, tobacco products and basic grocery items, alongside ancillary services such as car washes and loyalty programs.

Founded in 1980, Couche-Tard began as a single convenience store in Laval and has grown rapidly through both organic expansion and targeted acquisitions.