AutoCanada (TSE:ACQ) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

AutoCanada Inc. (TSE:ACQ) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$25.51 and traded as high as C$27.33. AutoCanada shares last traded at C$26.74, with a volume of 11,442 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ACQ shares. Royal Bank Of Canada reduced their price target on shares of AutoCanada from C$27.00 to C$23.00 and set a “sector perform” rating on the stock in a report on Friday, August 15th. Canaccord Genuity Group lifted their price target on shares of AutoCanada from C$24.00 to C$28.00 and gave the company a “buy” rating in a report on Monday, July 14th. Acumen Capital lifted their price target on shares of AutoCanada from C$30.50 to C$39.00 and gave the company a “speculative buy” rating in a report on Thursday, August 14th. BMO Capital Markets upgraded shares of AutoCanada from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$20.00 to C$40.00 in a report on Thursday, August 14th. Finally, National Bankshares lifted their price target on shares of AutoCanada from C$28.00 to C$36.00 and gave the company an “outperform” rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$33.71.

AutoCanada Stock Performance

The business’s fifty day moving average price is C$31.59 and its two-hundred day moving average price is C$25.51. The company has a debt-to-equity ratio of 451.54, a quick ratio of 0.25 and a current ratio of 1.03. The stock has a market capitalization of C$619.03 million, a P/E ratio of -33.01, a P/E/G ratio of 0.30 and a beta of 2.18.

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.