AutoCanada (TSE:ACQ) Stock Passes Above 200-Day Moving Average – Here’s What Happened

AutoCanada Inc. (TSE:ACQ)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$17.39 and traded as high as C$18.60. AutoCanada shares last traded at C$18.40, with a volume of 14,887 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. CIBC decreased their price target on AutoCanada from C$15.50 to C$15.00 in a report on Friday, November 15th. National Bankshares upgraded shares of AutoCanada from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$17.00 to C$21.00 in a research note on Thursday, November 14th. National Bank Financial upgraded shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets reduced their price objective on shares of 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 issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AutoCanada currently has an average rating of “Hold” and a consensus target price of C$19.44.

AutoCanada Price Performance

The firm has a market cap of C$426.70 million, a PE ratio of -11.72, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. The company has a 50 day moving average price of C$16.88 and a 200 day moving average price of C$17.39.

Insiders Place Their Bets

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 27,200 shares of AutoCanada stock in a transaction on Friday, September 20th. The shares were bought at an average price of C$15.47 per share, with a total value of C$420,900.96. 4.90% of the stock is owned by company insiders.

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.