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

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. purchased 4,700 shares of the company’s stock in a transaction on Friday, April 12th. The stock was acquired at an average price 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 stock was acquired at an average price 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 shares were bought at an average price of C$23.92 per share, for a total transaction of C$89,694.38.

AutoCanada Stock Down 2.0 %

Shares of AutoCanada stock opened at C$24.00 on Thursday. The stock has a market capitalization of C$566.64 million, a P/E ratio of 11.65, a PEG ratio of 0.30 and a beta of 2.60. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. The stock has a 50 day moving average price of C$23.48 and a two-hundred day moving average price of C$22.50. 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 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. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. The company had revenue of C$1.48 billion during the quarter, compared to analyst estimates of C$1.43 billion. Equities analysts expect that AutoCanada Inc. will post 3.0424469 earnings per share for the current year.

Analysts Set New Price Targets

ACQ has been the topic of several recent analyst reports. Cormark set a C$35.00 price objective on AutoCanada in a report on Tuesday, March 19th. Acumen Capital cut their price objective on 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. Scotiabank boosted their price objective on AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. BMO Capital Markets cut their price objective on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating on the stock in a report on Friday, March 8th. Finally, National Bankshares lowered their target price on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating on the stock in a research note on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.