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

AutoCanada Inc. (TSE:ACQ) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$23.24 and traded as high as C$23.28. AutoCanada shares last traded at C$23.18, with a volume of 7,281 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ACQ shares. Canadian Imperial Bank of Commerce downgraded shares of AutoCanada from an “outperform” rating to a “hold” rating and decreased their target price for the stock from C$34.00 to C$20.00 in a research note on Friday, March 20th. National Bank Financial dropped their price target on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 8th. ATB Cormark Capital Markets reduced their price objective on AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 19th. Canaccord Genuity Group cut AutoCanada from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$42.00 to C$22.00 in a research report on Thursday, March 19th. Finally, BMO Capital Markets lowered their target price on AutoCanada from C$36.00 to C$24.00 in a research note on Friday, March 20th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$22.71.

AutoCanada Trading Up 2.1%

The firm has a market cap of C$533.86 million, a PE ratio of 22.29, a P/E/G ratio of 0.30 and a beta of 1.77. The company’s fifty day moving average price is C$22.14 and its two-hundred day moving average price is C$23.24. The company has a quick ratio of 0.25, a current ratio of 1.07 and a debt-to-equity ratio of 448.50.

AutoCanada (TSE:ACQ) last issued its quarterly earnings results on Wednesday, May 13th. The company reported C$0.21 earnings per share (EPS) for the quarter. The business had revenue of C$1.19 billion for the quarter. AutoCanada had a net margin of 0.51% and a return on equity of 5.29%. As a group, sell-side analysts forecast that AutoCanada Inc. will post 2.4311927 earnings per share for the current fiscal year.

AutoCanada Company Profile

AutoCanada’s Canadian Dealership Operations include 64 franchised dealerships representing 23 automotive brands across eight provinces, as well as three independent used dealerships. The Company currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen vehicles. In 2024, AutoCanada’s Canadian dealerships sold approximately 85,000 new and used retail vehicles.