AutoCanada (TSE:ACQ) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

AutoCanada Inc. (TSE:ACQ)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$23.29 and traded as low as C$22.41. AutoCanada shares last traded at C$23.22, with a volume of 25,253 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ACQ shares. Royal Bank Of Canada raised their price target on shares of AutoCanada from C$18.00 to C$23.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce cut AutoCanada from an “outperform” rating to a “hold” rating and cut their target price for the stock from C$34.00 to C$20.00 in a research note on Friday, March 20th. Acumen Capital lifted their target price on AutoCanada from C$25.00 to C$27.00 and gave the company a “speculative buy” rating in a research report on Thursday, May 14th. BMO Capital Markets decreased their price target on AutoCanada from C$36.00 to C$24.00 in a research note on Friday, March 20th. Finally, ATB Cormark Capital Markets decreased their price target on AutoCanada from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$22.71.

AutoCanada Price Performance

The stock has a market cap of C$534.78 million, a price-to-earnings ratio of 22.33, a P/E/G ratio of 0.30 and a beta of 1.70. The company has a current ratio of 1.07, a quick ratio of 0.25 and a debt-to-equity ratio of 448.50. The company’s fifty day moving average is C$22.15 and its two-hundred day moving average is C$23.29.

AutoCanada (TSE:ACQ) last issued its quarterly earnings data on Wednesday, May 13th. The company reported C$0.21 earnings per share for the quarter. AutoCanada had a return on equity of 5.29% and a net margin of 0.51%.The business had revenue of C$1.19 billion during the quarter. As a group, research analysts predict that AutoCanada Inc. will post 2.4311927 earnings per share for the current year.

AutoCanada Company Profile

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.