AutoCanada Inc. (TSE:ACQ) Insider EdgePoint Investment Group Inc. Acquires 11,400 Shares

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 11,400 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of C$14.33 per share, for a total transaction of C$163,349.46.

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

• On Thursday, August 29th, EdgePoint Investment Group Inc. acquired 18,200 shares of AutoCanada stock. The shares were acquired at an average price of C$14.88 per share, with a total value of C$270,901.54.
• On Wednesday, August 21st, EdgePoint Investment Group Inc. purchased 7,600 shares of AutoCanada stock. The stock was acquired at an average cost of C$14.33 per share, with a total value of C$108,939.16.

AutoCanada Stock Up 1.2 %

Shares of ACQ traded up C$0.18 during mid-day trading on Wednesday, reaching C$14.79. The company’s stock had a trading volume of 33,373 shares, compared to its average volume of 51,243. AutoCanada Inc. has a 1 year low of C$13.75 and a 1 year high of C$27.54. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38. The company has a market cap of C$342.98 million, a price-to-earnings ratio of -9.42, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The business has a fifty day moving average of C$17.17 and a 200 day moving average of C$20.54.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Tuesday, August 13th. The company reported C($0.96) 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 return on equity of 6.62% and a negative net margin of 0.59%. As a group, analysts forecast that AutoCanada Inc. will post 1.2624434 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACQ. Royal Bank of Canada lowered their target price on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Cormark lowered their price objective on shares of AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. CIBC cut their target price on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a research report on Wednesday, August 14th. Canaccord Genuity Group decreased their price target on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, ATB Capital dropped their price objective on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$19.11.

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.