Alimentation Couche-Tard (OTCMKTS:ANCTF) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Alimentation Couche-Tard Inc. (OTCMKTS:ANCTF) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.10 and traded as low as $57.10. Alimentation Couche-Tard shares last traded at $57.5345, with a volume of 61,893 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Alimentation Couche-Tard in a report on Wednesday, June 24th. BMO Capital Markets reiterated a “market perform” rating on shares of Alimentation Couche-Tard in a research report on Wednesday, June 24th. Scotiabank reissued an “outperform” rating on shares of Alimentation Couche-Tard in a research note on Wednesday, August 19th. TD Securities reissued a “buy” rating on shares of Alimentation Couche-Tard in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Alimentation Couche-Tard in a research note on Tuesday, June 23rd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Alimentation Couche-Tard Stock Performance

The company’s 50 day simple moving average is $62.63 and its two-hundred day simple moving average is $60.08.

Alimentation Couche-Tard (OTCMKTS:ANCTF) last posted its earnings results on Wednesday, September 2nd. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $20.86 billion.

Alimentation Couche-Tard Company Profile

Alimentation Couche-Tard is a Canadian multinational operator of convenience stores and fuel service stations. Headquartered in Laval, Quebec, the company manages a broad network of outlets offering convenience products, fresh food offerings and fuel under a variety of brand names. Its retail sites typically feature grab-and-go snacks, beverages, tobacco products and basic grocery items, alongside ancillary services such as car washes and loyalty programs.

Founded in 1980, Couche-Tard began as a single convenience store in Laval and has grown rapidly through both organic expansion and targeted acquisitions.