EdgePoint Investment Group Inc. Purchases 1,400 Shares of AutoCanada Inc. (TSE:ACQ) Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. acquired 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was purchased at an average cost of C$23.83 per share, for a total transaction of C$33,362.00.

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

• On Friday, April 12th, EdgePoint Investment Group Inc. acquired 4,700 shares of AutoCanada stock. The stock was purchased 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 purchased 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. acquired 3,750 shares of AutoCanada stock. The stock was purchased at an average cost of C$23.92 per share, for a total transaction of C$89,694.38.

AutoCanada Stock Down 0.7 %

Shares of TSE ACQ opened at C$24.28 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 396.08. The stock has a market capitalization of C$573.25 million, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The stock’s fifty day simple moving average is C$23.65 and its two-hundred day simple moving average is C$22.52. AutoCanada Inc. has a 12-month low of C$15.14 and a 12-month high of C$27.54.

AutoCanada (TSE:ACQ) last issued its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, beating the consensus estimate 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 firm had revenue of C$1.48 billion during the quarter, compared to analyst estimates of C$1.43 billion. As a group, analysts expect that AutoCanada Inc. will post 3.0424469 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ACQ. Acumen Capital dropped their price objective on AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating on the stock in a research note on Friday, March 8th. Cormark set a C$35.00 price objective on AutoCanada in a research note on Tuesday, March 19th. BMO Capital Markets dropped their price objective on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a research note on Friday, March 8th. CIBC increased their target price on AutoCanada from C$22.00 to C$25.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Finally, Canaccord Genuity Group dropped their target price on 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.