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

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$17.21 and traded as high as C$17.52. AutoCanada shares last traded at C$17.50, with a volume of 2,590 shares traded.

Analysts Set New Price Targets

ACQ has been the subject of several research analyst reports. National Bankshares upgraded shares of AutoCanada from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$17.00 to C$21.00 in a research report on Thursday, November 14th. CIBC reduced their price objective on shares of AutoCanada from C$15.50 to C$15.00 in a research note on Friday, November 15th. National Bank Financial raised shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets reduced their price target on AutoCanada from C$19.50 to C$19.00 in a research report on Thursday, November 14th. One investment 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. According to data from MarketBeat, AutoCanada currently has an average rating of “Hold” and a consensus target price of C$19.44.

AutoCanada Stock Up 1.1 %

The firm has a market cap of C$405.83 million, a price-to-earnings ratio of -11.15, a PEG ratio of 0.30 and a beta of 2.54. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03. The business’s 50-day moving average is C$17.13 and its 200-day moving average is C$17.21.

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.