AutoCanada (TSE:ACQ) Stock Price Crosses Above 200 Day Moving Average of $11.03

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AutoCanada Inc. (TSE:ACQ)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.03 and traded as high as $8.97. AutoCanada shares last traded at $8.80, with a volume of 25,861 shares changing hands.

Several analysts have recently weighed in on the company. AltaCorp Capital upgraded AutoCanada from a “sector perform” rating to an “outperform” rating in a research note on Sunday, August 11th. Canaccord Genuity downgraded AutoCanada from a “buy” rating to a “hold” rating and lowered their target price for the company from C$14.00 to C$10.00 in a research note on Monday, May 6th. GMP Securities restated an “average” rating and set a C$16.00 target price on shares of AutoCanada in a research note on Wednesday, May 8th. CIBC lowered their target price on AutoCanada from C$12.50 to C$11.00 in a research note on Monday, May 6th. Finally, Clarus Securities restated a “buy” rating on shares of AutoCanada in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of C$12.46.

The firm has a market capitalization of $242.09 million and a price-to-earnings ratio of -4.38. The stock has a 50 day moving average of C$9.44 and a 200 day moving average of C$10.99. The company has a quick ratio of 0.19, a current ratio of 1.09 and a debt-to-equity ratio of 352.13.

In other news, Director Dennis Stephan Desrosiers purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of C$9.72 per share, for a total transaction of C$97,239.00. Following the completion of the purchase, the director now owns 24,500 shares of the company’s stock, valued at C$238,235.55.

AutoCanada Company Profile (TSE:ACQ)

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. 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, extended service contracts, vehicle protection products, and other after-market products.

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