Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Acquires 4,700 Shares of Stock

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

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

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

AutoCanada Stock Performance

TSE ACQ opened at C$24.31 on Friday. AutoCanada Inc. has a twelve month low of C$15.14 and a twelve month high of C$27.54. The stock has a 50-day moving average of C$23.54 and a 200 day moving average of C$22.51. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 396.08. The stock has a market capitalization of C$573.96 million, a price-to-earnings ratio of 11.80, a PEG ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 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 analyst estimates of C$1.43 billion. Sell-side analysts anticipate that AutoCanada Inc. will post 3.0424469 EPS for the current fiscal year.

Analyst Ratings Changes

ACQ has been the subject of several analyst reports. Cormark set a C$35.00 price objective on AutoCanada in a report on Tuesday, March 19th. BMO Capital Markets decreased their price objective on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a report on Friday, March 8th. CIBC decreased their price objective on AutoCanada from C$22.50 to C$22.00 and set a “neutral” rating for the company in a report on Friday, March 8th. Acumen Capital decreased their price objective on AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a report on Friday, March 8th. Finally, Canaccord Genuity Group reduced their price target on AutoCanada from C$22.00 to C$20.00 and set a “hold” rating for the company in a report on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, AutoCanada has a consensus rating of “Hold” and a consensus target price of C$27.65.

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.