AutoCanada Inc. (TSE:ACQ) Insider Buys C$111,604.79 in Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 4,700 shares of the stock in a transaction on Friday, April 12th. The stock was purchased at an average cost of C$23.75 per share, with a total value of C$111,604.79.

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

• On Tuesday, March 19th, EdgePoint Investment Group Inc. bought 21,200 shares of AutoCanada stock. The stock was purchased at an average cost of C$26.64 per share, with a total value of C$564,865.52.
• On Wednesday, March 13th, EdgePoint Investment Group Inc. bought 3,750 shares of AutoCanada stock. The stock was purchased at an average cost of C$23.92 per share, with a total value of C$89,694.38.

AutoCanada Stock Down 0.7 %

Shares of TSE ACQ opened at C$24.15 on Friday. AutoCanada Inc. has a 52-week low of C$15.14 and a 52-week high of C$27.54. The firm has a fifty day moving average of C$23.60 and a 200-day moving average of C$22.52. The stock has a market capitalization of C$570.18 million, a PE ratio of 11.72, a P/E/G ratio of 0.30 and a beta of 2.60. 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 (TSE:ACQ) last posted its earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, beating the consensus estimate of C$0.56 by C$0.13. The business had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. On average, analysts anticipate that AutoCanada Inc. will post 3.0424469 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACQ. BMO Capital Markets lowered their target price on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a research note on Friday, March 8th. Canaccord Genuity Group lowered their target price on shares of AutoCanada from C$22.00 to C$20.00 and set a “hold” rating for the company in a research note on Friday, March 8th. Scotiabank lifted their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. CIBC boosted their price objective on shares of AutoCanada from C$22.00 to C$25.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Acumen Capital lowered their price objective on shares of AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a research note on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$27.95.

About AutoCanada

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.