Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Acquires 18,100 Shares of Stock

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

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

• On Friday, September 6th, EdgePoint Investment Group Inc. bought 11,400 shares of AutoCanada stock. The shares were purchased 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 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. bought 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 Trading Down 1.0 %

ACQ traded down C$0.14 during trading on Monday, reaching C$14.57. 9,265 shares of the company’s stock were exchanged, compared to its average volume of 50,601. The stock has a market capitalization of C$337.88 million, a PE ratio of -9.37, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The firm has a fifty day moving average price of C$16.93 and a two-hundred day moving average price of C$20.41. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 444.38. AutoCanada Inc. has a one year low of C$13.75 and a one year high of C$27.54.

AutoCanada (TSE:ACQ) last announced its 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). AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. The company had revenue of C$1.60 billion for the quarter, compared to analyst estimates of C$1.62 billion. As a group, equities research analysts forecast that AutoCanada Inc. will post 2.431405 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACQ. ATB Capital cut their price objective on AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. National Bankshares cut their price objective on shares of AutoCanada from C$20.00 to C$17.00 and set a “sector perform” 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 report on Wednesday, August 14th. Royal Bank of Canada dropped their price objective on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Finally, Cormark lowered their price objective on AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AutoCanada presently has an average rating of “Hold” and an average 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.