EdgePoint Investment Group Inc. Acquires 21,200 Shares of AutoCanada Inc. (TSE:ACQ) Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 21,200 shares of the stock in a transaction dated Tuesday, March 19th. The shares were acquired at an average price of C$26.64 per share, with a total value of C$564,865.52.

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

• On Wednesday, March 13th, EdgePoint Investment Group Inc. bought 3,750 shares of AutoCanada stock. The shares were acquired at an average price of C$23.92 per share, with a total value of C$89,694.38.

AutoCanada Stock Performance

Shares of TSE ACQ opened at C$26.47 on Wednesday. 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 firm’s 50-day moving average price is C$22.45 and its two-hundred day moving average price is C$22.47. AutoCanada Inc. has a 52-week low of C$15.14 and a 52-week high of C$27.54. The stock has a market capitalization of C$624.96 million, a P/E ratio of 12.85, a P/E/G ratio of 0.30 and a beta of 2.60.

Wall Street Analyst Weigh In

ACQ has been the subject of several recent analyst reports. National Bankshares lowered their target price on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating for the company in a research note on Friday, March 8th. CIBC lowered their target price on AutoCanada from C$22.50 to C$22.00 and set a “neutral” rating for the company in a research note on Friday, March 8th. Scotiabank raised their target price on AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. Acumen Capital decreased their price target on AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a research note on Friday, March 8th. Finally, BMO Capital Markets decreased their price target on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a research note on Friday, March 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$27.65.

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.