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

AutoCanada Inc. (TSE:ACQ)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$23.29 and traded as low as C$22.41. AutoCanada shares last traded at C$23.22, with a volume of 25,253 shares.

Analysts Set New Price Targets

Several research analysts recently weighed in on ACQ shares. BMO Capital Markets reduced their price target on shares of AutoCanada from C$36.00 to C$24.00 in a research report on Friday, March 20th. Acumen Capital lifted their price objective on AutoCanada from C$25.00 to C$27.00 and gave the stock a “speculative buy” rating in a report on Thursday, May 14th. Royal Bank Of Canada increased their target price on AutoCanada from C$18.00 to C$23.00 and gave the company a “sector perform” rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce downgraded AutoCanada from an “outperform” rating to a “hold” rating and decreased their target price for the company from C$34.00 to C$20.00 in a research report on Friday, March 20th. Finally, ATB Cormark Capital Markets lowered their price target on AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$22.71.

AutoCanada Stock Up 4.0%

The company has a quick ratio of 0.25, a current ratio of 1.07 and a debt-to-equity ratio of 448.50. The firm has a market capitalization of C$534.78 million, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.30 and a beta of 1.70. The business has a 50-day moving average price of C$22.15 and a 200-day moving average price of C$23.29.

AutoCanada (TSE:ACQ) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.21 earnings per share for the quarter. AutoCanada had a return on equity of 5.29% and a net margin of 0.51%.The company had revenue of C$1.19 billion for the quarter. Equities research 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.