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

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 4,700 shares of the firm’s stock in a transaction 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. purchased 21,200 shares of AutoCanada stock. The shares were bought at an average cost of C$26.64 per share, for a total transaction of C$564,865.52.
• On Wednesday, March 13th, EdgePoint Investment Group Inc. purchased 3,750 shares of AutoCanada stock. The shares were bought at an average cost of C$23.92 per share, for a total transaction of C$89,694.38.

AutoCanada Trading Down 2.0 %

Shares of TSE ACQ traded down C$0.50 during midday trading on Wednesday, reaching C$24.00. The stock had a trading volume of 12,786 shares, compared to its average volume of 32,652. The firm has a market cap of C$566.64 million, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. AutoCanada Inc. has a twelve month low of C$15.14 and a twelve month high of C$27.54. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. The company’s 50 day moving average price is C$23.42 and its 200 day moving average price is C$22.49.

AutoCanada (TSE:ACQ) last issued its quarterly 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. The firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. As a group, sell-side analysts expect that AutoCanada Inc. will post 3.0424469 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on ACQ. Acumen Capital decreased their price target 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 cut their target price on shares of AutoCanada from C$22.50 to C$22.00 and set a “neutral” rating on the stock in a research report on Friday, March 8th. Cormark set a C$35.00 target price on shares of AutoCanada in a research report on Tuesday, March 19th. National Bankshares cut their target price on shares of AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating on the stock in a research report on Friday, March 8th. Finally, Canaccord Genuity Group cut their target price on shares of AutoCanada from C$22.00 to C$20.00 and set a “hold” rating on the stock in a research report on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, AutoCanada currently has a consensus rating of “Hold” and a consensus price target of C$27.65.

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.