AutoCanada (OTCMKTS:AOCIF) Stock Jumps 29.4% – What’s Next?

Shares of AutoCanada Inc. (OTCMKTS:AOCIF) traded up 29.4% during trading on Wednesday. The stock traded as high as $20.50 and last traded at $20.50. Approximately 2,569 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 10,481 shares. The stock had previously closed at $15.84.

Analyst Upgrades and Downgrades

AOCIF has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating on shares of AutoCanada in a research note on Tuesday, August 18th. BMO Capital Markets restated a “market perform” rating on shares of AutoCanada in a research report on Friday, August 14th. Desjardins began coverage on AutoCanada in a research note on Tuesday, October 27th. They issued a “hold” rating on the stock. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of AutoCanada in a research report on Friday, August 14th. Four equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

AutoCanada Stock Down 1.3%

The firm’s fifty day moving average is $16.09 and its 200-day moving average is $16.43.

About AutoCanada

AutoCanada Inc is an automotive dealership group that operates franchised dealerships in Canada and the United States. The company sells new and used vehicles from a range of major automobile manufacturers and supports customers through vehicle financing and insurance products.

In addition to vehicle sales, AutoCanada provides automotive repair and maintenance services, sells replacement parts, and offers collision-repair services at selected locations. Its operations also include dealership-related digital and customer-service capabilities intended to support vehicle purchases and ownership throughout the customer lifecycle.

AutoCanada was established in 2006 and has expanded through the acquisition and operation of automotive dealerships.