AutoCanada Inc. (TSE:ACQ) Insider EdgePoint Investment Group Inc. Acquires 37,000 Shares

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

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

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

AutoCanada Trading Up 2.3 %

AutoCanada stock traded up C$0.36 during midday trading on Monday, reaching C$15.84. The stock had a trading volume of 22,321 shares, compared to its average volume of 50,851. AutoCanada Inc. has a 52-week low of C$13.75 and a 52-week high of C$27.54. The company has a fifty day moving average of C$16.56 and a 200 day moving average of C$20.20. The firm has a market cap of C$367.33 million, a price-to-earnings ratio of -9.86, a price-to-earnings-growth 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 (TSE:ACQ) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C($0.96) earnings per share for the quarter, missing the consensus estimate of C$0.34 by C($1.30). AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. The business had revenue of C$1.60 billion during the quarter, compared to analysts’ expectations of C$1.62 billion. On average, analysts anticipate that AutoCanada Inc. will post 2.431405 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on ACQ shares. ATB Capital reduced their price objective on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday, August 14th. Canaccord Genuity Group reduced their price target on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. BMO Capital Markets lowered their price objective on shares of 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. Royal Bank of Canada reduced their target price on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Finally, CIBC lowered their price target on shares of AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, AutoCanada currently has a consensus rating of “Hold” and a consensus price target 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.