AutoCanada (TSE:ACQ) Stock Passes Above 200-Day Moving Average – Time to Sell?

AutoCanada Inc. (TSE:ACQ) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$22.02 and traded as high as C$22.27. AutoCanada shares last traded at C$21.67, with a volume of 87,887 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACQ. Royal Bank Of Canada boosted their price target on shares of AutoCanada from C$23.00 to C$24.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 18th. National Bank Financial lifted their target price on shares of AutoCanada from C$21.00 to C$23.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Finally, BMO Capital Markets lifted their target price on shares of AutoCanada from C$24.00 to C$27.00 in a research note on Friday, August 14th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, AutoCanada presently has a consensus rating of “Hold” and an average target price of C$23.43.

AutoCanada Price Performance

The company has a market capitalization of C$498.15 million, a PE ratio of 17.06, a price-to-earnings-growth ratio of 0.30 and a beta of 1.84. The company has a debt-to-equity ratio of 418.22, a current ratio of 1.05 and a quick ratio of 0.25. The stock’s 50 day simple moving average is C$22.69 and its 200-day simple moving average is C$22.02.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$0.97 earnings per share for the quarter. AutoCanada had a net margin of 0.63% and a return on equity of 6.64%. The firm had revenue of C$1.42 billion during the quarter. As a group, equities analysts forecast that AutoCanada Inc. will post 2.4311927 earnings per share for the current fiscal year.

About AutoCanada

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.