AutoCanada Inc. (TSE:ACQ) Insider EdgePoint Investment Group Inc. Buys 11,400 Shares of Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. acquired 11,400 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of C$14.33 per share, with a total value of C$163,349.46.

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

• On Thursday, August 29th, EdgePoint Investment Group Inc. purchased 18,200 shares of AutoCanada stock. The shares were bought 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. acquired 7,600 shares of AutoCanada stock. The shares were bought at an average price of C$14.33 per share, with a total value of C$108,939.16.

AutoCanada Stock Performance

Shares of ACQ stock opened at C$14.79 on Thursday. 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 12-month low of C$13.75 and a 12-month high of C$27.54. The business’s 50 day moving average is C$17.17 and its two-hundred day moving average is C$20.54. The company has a market capitalization of C$342.98 million, a P/E ratio of -9.42, a P/E/G ratio of 0.30 and a beta of 2.54.

AutoCanada (TSE:ACQ) last announced its earnings results on Tuesday, August 13th. The company reported C($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). AutoCanada had a negative net margin of 0.59% and a negative return on equity of 6.62%. The business had revenue of C$1.60 billion for the quarter, compared to analysts’ expectations of C$1.62 billion. Analysts expect that AutoCanada Inc. will post 1.2624434 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on ACQ. CIBC cut their target price on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating on the stock in a research report on Wednesday, August 14th. Acumen Capital cut their price objective on AutoCanada from C$21.50 to C$19.75 in a report on Thursday, August 15th. Canaccord Genuity Group decreased 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. Cormark cut their price target on shares of AutoCanada from C$25.50 to C$21.75 in a report on Wednesday, August 14th. Finally, BMO Capital Markets decreased 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 note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$19.11.

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.