AutoCanada Inc. (TSE:ACQ) Insider Buys C$57,588.00 in Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. purchased 2,400 shares of the stock in a transaction dated Friday, April 19th. The stock was purchased at an average price of C$24.00 per share, with a total value of C$57,588.00.

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

• On Tuesday, April 16th, EdgePoint Investment Group Inc. purchased 1,400 shares of AutoCanada stock. The stock was purchased at an average price of C$23.83 per share, with a total value of C$33,362.00.
• On Friday, April 12th, EdgePoint Investment Group Inc. bought 4,700 shares of AutoCanada stock. The stock was bought at an average cost of C$23.75 per share, for a total transaction of C$111,604.79.
• On Tuesday, March 19th, EdgePoint Investment Group Inc. bought 21,200 shares of AutoCanada stock. The stock was bought at an average cost of C$26.64 per share, for a total transaction of C$564,865.52.
• On Wednesday, March 13th, EdgePoint Investment Group Inc. bought 3,750 shares of AutoCanada stock. The stock was bought at an average cost of C$23.92 per share, for a total transaction of C$89,694.38.

AutoCanada Trading Up 2.1 %

TSE:ACQ opened at C$24.00 on Friday. AutoCanada Inc. has a 1 year low of C$15.14 and a 1 year high of C$27.54. The stock has a market cap of C$566.64 million, a price-to-earnings ratio of 11.65, a PEG ratio of 0.30 and a beta of 2.60. The business has a fifty day moving average of C$23.83 and a 200-day moving average of C$22.54. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. National Bankshares dropped their target price on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating on the stock in a research report on Friday, March 8th. Scotiabank increased their target price on AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Cormark set a C$35.00 target price on AutoCanada in a research report on Tuesday, March 19th. BMO Capital Markets dropped their target price on 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. Finally, Canaccord Genuity Group decreased their price target on 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. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, AutoCanada currently has an average rating of “Hold” and a consensus 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.