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

AutoCanada Inc. (TSE:ACQ) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$18.04 and traded as high as C$22.00. AutoCanada shares last traded at C$21.50, with a volume of 20,468 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ACQ shares. Acumen Capital raised AutoCanada from a “hold” rating to a “speculative buy” rating and increased their target price for the stock from C$20.00 to C$22.50 in a report on Friday, March 21st. CIBC raised AutoCanada from an “underperform” rating to a “neutral” rating and increased their target price for the stock from C$15.00 to C$23.00 in a report on Thursday, May 22nd. Canaccord Genuity Group increased their target price on AutoCanada from C$22.00 to C$24.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. ATB Capital upped their price objective 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. Finally, Cibc World Mkts upgraded AutoCanada from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 15th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$20.31.

AutoCanada Stock Down 1.3%

The stock has a market capitalization of C$500.34 million, a P/E ratio of -9.92, a P/E/G ratio of 0.30 and a beta of 2.54. The firm has a 50-day simple moving average of C$18.84 and a 200 day simple moving average of C$18.04. The company has a debt-to-equity ratio of 451.54, a current ratio of 1.03 and a quick ratio of 0.25.

Insider Buying and Selling

In other news, insider EdgePoint Investment Group Inc. acquired 4,880 shares of AutoCanada stock in a transaction on Wednesday, May 21st. The stock was purchased at an average price of C$19.78 per share, with a total value of C$96,548.36. Insiders acquired 86,770 shares of company stock valued at $1,775,726 over the last 90 days. Company insiders own 4.90% of the company’s stock.

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.