Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Acquires C$554,400.60 in Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. purchased 37,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were bought at an average cost of C$14.98 per share, with a total value of C$554,400.60.

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

• On Friday, September 20th, EdgePoint Investment Group Inc. acquired 27,200 shares of AutoCanada stock. The stock was acquired at an average cost of C$15.47 per share, with a total value of C$420,900.96.
• On Wednesday, September 11th, EdgePoint Investment Group Inc. acquired 18,100 shares of AutoCanada stock. The shares were acquired at an average price of C$14.44 per share, for a total transaction of C$261,364.00.
• On Friday, September 6th, EdgePoint Investment Group Inc. bought 11,400 shares of AutoCanada stock. The shares were bought at an average cost of C$14.33 per share, for a total transaction of C$163,349.46.
• On Thursday, August 29th, EdgePoint Investment Group Inc. acquired 18,200 shares of AutoCanada stock. The shares were bought at an average cost of C$14.88 per share, for a total transaction of C$270,901.54.
• On Wednesday, August 21st, EdgePoint Investment Group Inc. purchased 7,600 shares of AutoCanada stock. The stock was purchased at an average price of C$14.33 per share, for a total transaction of C$108,939.16.

AutoCanada Stock Performance

ACQ opened at C$16.12 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. AutoCanada Inc. has a 12-month low of C$13.75 and a 12-month high of C$27.54. The firm has a 50 day moving average of C$16.36 and a two-hundred day moving average of C$20.09. The firm has a market capitalization of C$373.82 million, a PE ratio of -10.27, a P/E/G ratio of 0.30 and a beta of 2.54.

AutoCanada (TSE:ACQ) last posted its earnings results on Tuesday, August 13th. The company reported C($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). The business had revenue of C$1.60 billion for the quarter, compared to analyst estimates of C$1.62 billion. AutoCanada had a negative net margin of 0.59% and a negative return on equity of 6.62%. On average, analysts anticipate that AutoCanada Inc. will post 2.431405 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on ACQ. ATB Capital cut their price target on shares of AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. Cormark dropped their target price on AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. Acumen Capital decreased their price target on AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. Canaccord Genuity Group lowered their price target on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, CIBC cut their price objective on shares of AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating on the stock in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$19.11.

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.