EdgePoint Investment Group Inc. Purchases 37,000 Shares of AutoCanada Inc. (TSE:ACQ) Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 37,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were bought at an average price of C$14.98 per share, with a total value of C$554,400.60.

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

• On Wednesday, September 11th, EdgePoint Investment Group Inc. purchased 18,100 shares of AutoCanada stock. The stock was bought at an average cost of C$14.44 per share, for a total transaction of C$261,364.00.
• On Friday, September 6th, EdgePoint Investment Group Inc. acquired 11,400 shares of AutoCanada stock. The shares were purchased at an average price of C$14.33 per share, with a total value of C$163,349.46.
• On Thursday, August 29th, EdgePoint Investment Group Inc. bought 18,200 shares of AutoCanada stock. The shares were purchased at an average price of C$14.88 per share, for a total transaction of C$270,901.54.
• On Wednesday, August 21st, EdgePoint Investment Group Inc. purchased 7,600 shares of AutoCanada stock. The stock was purchased at an average price of C$14.33 per share, with a total value of C$108,939.16.

AutoCanada Price Performance

Shares of ACQ stock opened at C$15.78 on Wednesday. The business has a fifty day simple moving average of C$16.42 and a 200 day simple moving average of C$20.12. The company has a market cap of C$365.94 million, a P/E ratio of -10.05, a P/E/G ratio of 0.30 and a beta of 2.54. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38. 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 earnings results on Tuesday, August 13th. The company reported C($0.96) EPS for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). The company had revenue of C$1.60 billion during the quarter, compared to the consensus estimate of C$1.62 billion. AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. On average, sell-side analysts forecast that AutoCanada Inc. will post 2.431405 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.