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 business’s stock in a transaction dated Friday, April 19th. The shares were purchased at an average cost 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 shares were purchased at an average cost of C$23.83 per share, with a total value of C$33,362.00.
• On Friday, April 12th, EdgePoint Investment Group Inc. purchased 4,700 shares of AutoCanada stock. The shares were purchased at an average cost of C$23.75 per share, with a total value of C$111,604.79.
• On Tuesday, March 19th, EdgePoint Investment Group Inc. purchased 21,200 shares of AutoCanada stock. The shares were 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. purchased 3,750 shares of AutoCanada stock. The shares were purchased at an average cost of C$23.92 per share, with a total value of C$89,694.38.

AutoCanada Stock Down 1.7 %

Shares of TSE:ACQ opened at C$23.51 on Friday. 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 Inc. has a 1 year low of C$15.14 and a 1 year high of C$27.54. The stock has a market capitalization of C$555.07 million, a P/E ratio of 11.41, a PEG ratio of 0.30 and a beta of 2.60. The stock has a 50-day simple moving average of C$23.79 and a 200-day simple moving average of C$22.53.

AutoCanada (TSE:ACQ) last issued its earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of C$1.48 billion during the quarter, compared to analysts’ expectations of C$1.43 billion. Equities analysts forecast that AutoCanada Inc. will post 3.0424469 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ACQ shares. CIBC lifted their price target on AutoCanada from C$22.00 to C$25.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Scotiabank lifted their price objective 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. National Bankshares dropped their price objective on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating for the company in a research report on Friday, March 8th. BMO Capital Markets lowered their price target 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. Finally, Cormark set a C$35.00 price target on AutoCanada in a report on Tuesday, March 19th. Five 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, the stock currently has an average rating of “Hold” and an average target price 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.