AutoCanada (TSE:ACQ) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of AutoCanada Inc. (TSE:ACQ) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$17.39 and traded as high as C$18.60. AutoCanada shares last traded at C$18.40, with a volume of 14,887 shares traded.

Analysts Set New Price Targets

A number of research firms recently issued reports on ACQ. BMO Capital Markets dropped their price target on shares of AutoCanada from C$19.50 to C$19.00 in a research note on Thursday, November 14th. National Bank Financial upgraded shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. National Bankshares upgraded shares of AutoCanada from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$17.00 to C$21.00 in a research report on Thursday, November 14th. Finally, CIBC lowered their price objective on AutoCanada from C$15.50 to C$15.00 in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AutoCanada has an average rating of “Hold” and a consensus price target of C$19.44.

AutoCanada Price Performance

The firm has a market capitalization of C$426.70 million, a PE ratio of -11.72, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The stock’s 50 day simple moving average is C$16.88 and its two-hundred day simple moving average is C$17.37. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03.

Insider Buying and Selling at AutoCanada

In other news, insider EdgePoint Investment Group Inc. bought 37,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average cost of C$14.98 per share, for a total transaction of C$554,400.60. 4.90% of the stock is owned by company insiders.

AutoCanada Company Profile

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.