Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Acquires C$33,362.00 in Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. acquired 1,400 shares of AutoCanada stock in a transaction on Tuesday, April 16th. The shares were bought at an average price of C$23.83 per share, for a total transaction of C$33,362.00.

EdgePoint Investment Group Inc. also recently made the following trade(s):

• On Friday, April 19th, EdgePoint Investment Group Inc. acquired 2,400 shares of AutoCanada stock. The shares were bought at an average price of C$24.00 per share, for a total transaction of C$57,588.00.
• On Friday, April 12th, EdgePoint Investment Group Inc. purchased 4,700 shares of AutoCanada stock. The stock was acquired at an average price of C$23.75 per share, for a total transaction of C$111,604.79.
• On Tuesday, March 19th, EdgePoint Investment Group Inc. purchased 21,200 shares of AutoCanada stock. The stock was acquired at an average price of C$26.64 per share, for a total transaction of C$564,865.52.
• On Wednesday, March 13th, EdgePoint Investment Group Inc. purchased 3,750 shares of AutoCanada stock. The stock was acquired at an average price of C$23.92 per share, for a total transaction of C$89,694.38.

AutoCanada Stock Down 1.5 %

ACQ stock opened at C$23.91 on Thursday. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. AutoCanada Inc. has a fifty-two week low of C$15.14 and a fifty-two week high of C$27.54. The firm’s 50-day simple moving average is C$23.73 and its 200 day simple moving average is C$22.52. The stock has a market cap of C$564.52 million, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last released its earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The firm had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. As a group, sell-side analysts predict that AutoCanada Inc. will post 3.0424469 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACQ shares. Scotiabank raised their price target on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. BMO Capital Markets reduced their price target on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a research report on Friday, March 8th. Acumen Capital reduced their price target on shares of AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating on the stock in a research report on Friday, March 8th. Canaccord Genuity Group reduced their price target on shares of AutoCanada from C$22.00 to C$20.00 and set a “hold” rating on the stock in a research report on Friday, March 8th. Finally, CIBC increased their price objective on shares of AutoCanada from C$22.00 to C$25.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, AutoCanada presently has a consensus rating of “Hold” and an average price target of C$27.95.

AutoCanada Company Profile

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.