EdgePoint Investment Group Inc. Acquires 2,400 Shares of AutoCanada Inc. (TSE:ACQ) Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 2,400 shares of the stock in a transaction dated Friday, April 19th. The shares were bought 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. acquired 1,400 shares of AutoCanada stock. The stock was purchased at an average cost of C$23.83 per share, for a total transaction of C$33,362.00.
• On Friday, April 12th, EdgePoint Investment Group Inc. bought 4,700 shares of AutoCanada stock. The shares were acquired 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. 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 price of C$23.92 per share, with a total value of C$89,694.38.

AutoCanada Stock Down 1.5 %

Shares of TSE:ACQ traded down C$0.37 during midday trading on Wednesday, hitting C$23.91. 12,707 shares of the stock were exchanged, compared to its average volume of 31,662. The business’s fifty day simple moving average is C$23.73 and its two-hundred day simple moving average is C$22.52. 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 52-week low of C$15.14 and a 52-week high of C$27.54. The company has a market capitalization of C$564.52 million, a PE ratio of 11.61, a P/E/G ratio of 0.30 and a beta of 2.60.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACQ. Canaccord Genuity Group lowered their target price on AutoCanada from C$22.00 to C$20.00 and set a “hold” rating on the stock in a report on Friday, March 8th. Acumen Capital dropped their target price on shares of AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating on the stock in a report on Friday, March 8th. CIBC raised their target price on shares of AutoCanada from C$22.00 to C$25.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Cormark set a C$35.00 price objective on AutoCanada in a research note on Tuesday, March 19th. Finally, National Bankshares dropped their price target on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating on the stock in a research note 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.