Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Buys C$28,740.00 in Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. acquired 1,200 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of C$23.95 per share, with a total value of C$28,740.00.

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

• On Friday, April 19th, EdgePoint Investment Group Inc. purchased 2,400 shares of AutoCanada stock. The stock was bought at an average price of C$24.00 per share, with a total value of C$57,588.00.
• On Tuesday, April 16th, EdgePoint Investment Group Inc. purchased 1,400 shares of AutoCanada stock. The stock was bought at an average price of C$23.83 per share, with a total value of C$33,362.00.
• On Friday, April 12th, EdgePoint Investment Group Inc. purchased 4,700 shares of AutoCanada stock. The stock was bought at an average price of C$23.75 per share, with a total value of C$111,604.79.
• On Tuesday, March 19th, EdgePoint Investment Group Inc. purchased 21,200 shares of AutoCanada stock. The stock was bought at an average price of C$26.64 per share, with a total value of C$564,865.52.
• On Wednesday, March 13th, EdgePoint Investment Group Inc. purchased 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 Up 1.0 %

TSE:ACQ opened at C$24.39 on Thursday. The company has a market capitalization of C$575.85 million, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. AutoCanada Inc. has a one year low of C$15.14 and a one year high of C$27.54. The stock has a 50-day simple moving average of C$24.04 and a 200 day simple moving average of C$22.49. 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 (TSE:ACQ) last posted its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, topping analysts’ consensus estimates of C$0.56 by C$0.13. The business had revenue of C$1.48 billion during 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%. Sell-side analysts predict that AutoCanada Inc. will post 3.0424469 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ACQ has been the subject of several recent research reports. BMO Capital Markets lowered their price target on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a report on Friday, March 8th. Canaccord Genuity Group lowered their price target on AutoCanada from C$22.00 to C$20.00 and set a “hold” rating for the company in a report on Friday, March 8th. Acumen Capital decreased their price objective on shares of AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a research report on Friday, March 8th. CIBC upped their price objective on shares of 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, Cormark set a C$35.00 price objective on shares of AutoCanada in a research report on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$27.95.

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.