Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Purchases C$261,364.00 in Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 18,100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average cost of C$14.44 per share, with a total value of C$261,364.00.

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

• On Friday, September 6th, EdgePoint Investment Group Inc. purchased 11,400 shares of AutoCanada stock. The stock was bought at an average cost of C$14.33 per share, with a total value of C$163,349.46.
• On Thursday, August 29th, EdgePoint Investment Group Inc. purchased 18,200 shares of AutoCanada stock. The stock was bought at an average cost of C$14.88 per share, with a total value of C$270,901.54.
• On Wednesday, August 21st, EdgePoint Investment Group Inc. acquired 7,600 shares of AutoCanada stock. The stock was acquired at an average price of C$14.33 per share, with a total value of C$108,939.16.

AutoCanada Trading Up 3.0 %

Shares of ACQ stock opened at C$15.15 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. The business’s 50 day moving average is C$16.69 and its two-hundred day moving average is C$20.28. The company has a market capitalization of C$351.33 million, a P/E ratio of -9.65, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. AutoCanada Inc. has a twelve month low of C$13.75 and a twelve month high of C$27.54.

AutoCanada (TSE:ACQ) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C($0.96) EPS for the quarter, missing the consensus estimate of C$0.34 by C($1.30). The business had revenue of C$1.60 billion during the quarter, compared to analyst estimates of C$1.62 billion. AutoCanada had a negative net margin of 0.59% and a negative return on equity of 6.62%. Equities analysts forecast that AutoCanada Inc. will post 2.431405 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on ACQ shares. Cormark cut their price objective on AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. Acumen Capital dropped their price target on AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. Canaccord Genuity Group dropped their price target on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. BMO Capital Markets dropped their price target on AutoCanada from C$21.00 to C$19.50 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Finally, ATB Capital dropped their price target on AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$19.11.

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.