AutoCanada (TSE:ACQ) Stock Price Passes Below 200 Day Moving Average – What’s Next?

AutoCanada Inc. (TSE:ACQ)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$24.28 and traded as low as C$20.29. AutoCanada shares last traded at C$20.80, with a volume of 28,254 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on ACQ. BMO Capital Markets dropped their target price on AutoCanada from C$36.00 to C$24.00 in a report on Friday, March 20th. Royal Bank Of Canada dropped their target price on AutoCanada from C$28.00 to C$18.00 in a report on Thursday, March 19th. Canaccord Genuity Group downgraded AutoCanada from a “buy” rating to a “hold” rating and dropped their target price for the company from C$42.00 to C$22.00 in a report on Thursday, March 19th. Acumen Capital raised their target price on AutoCanada from C$35.50 to C$39.25 and gave the company a “speculative buy” rating in a report on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce downgraded AutoCanada from an “outperform” rating to a “hold” rating and dropped their target price for the company from C$34.00 to C$20.00 in a report on Friday, March 20th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$23.89.

AutoCanada Trading Up 0.7%

The business has a 50 day simple moving average of C$23.05 and a two-hundred day simple moving average of C$24.28. The company has a current ratio of 1.07, a quick ratio of 0.25 and a debt-to-equity ratio of 409.72. The stock has a market cap of C$478.75 million, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 0.30 and a beta of 1.82.

AutoCanada (TSE:ACQ) last issued its quarterly earnings data on Wednesday, March 18th. The company reported C($0.06) earnings per share for the quarter. AutoCanada had a net margin of 0.33% and a return on equity of 3.40%. The business had revenue of C$1.12 billion for the quarter. As a group, equities analysts anticipate that AutoCanada Inc. will post 2.4311927 EPS for the current year.

About AutoCanada

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.