EdgePoint Investment Group Inc. Acquires 1,400 Shares of AutoCanada Inc. (TSE:ACQ) Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 1,400 shares of the stock in a transaction on Tuesday, April 16th. The shares were acquired at an average cost of C$23.83 per share, with a total value of C$33,362.00.

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

• On Friday, April 19th, EdgePoint Investment Group Inc. bought 2,400 shares of AutoCanada stock. The shares were acquired at an average cost of C$24.00 per share, with a total value of C$57,588.00.
• On Friday, April 12th, EdgePoint Investment Group Inc. bought 4,700 shares of AutoCanada stock. The shares were acquired at an average cost of C$23.75 per share, with a total value of C$111,604.79.
• On Tuesday, March 19th, EdgePoint Investment Group Inc. bought 21,200 shares of AutoCanada stock. The shares were acquired at an average cost of C$26.64 per share, with a total value of C$564,865.52.
• On Wednesday, March 13th, EdgePoint Investment Group Inc. purchased 3,750 shares of AutoCanada stock. The shares were purchased at an average cost of C$23.92 per share, for a total transaction of C$89,694.38.

AutoCanada Trading Down 1.5 %

Shares of TSE:ACQ opened at C$23.91 on Thursday. The company’s 50-day moving average price is C$23.73 and its two-hundred day moving average price is C$22.52. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25. AutoCanada Inc. has a one year low of C$15.14 and a one year high of C$27.54. The stock has a market capitalization of C$564.52 million, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last issued its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, topping the consensus estimate of C$0.56 by C$0.13. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. The firm had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion. On average, equities analysts forecast that AutoCanada Inc. will post 3.0424469 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ACQ shares. Cormark set a C$35.00 price target on shares of AutoCanada in a research report on Tuesday, March 19th. Canaccord Genuity Group reduced their price target on shares of AutoCanada from C$22.00 to C$20.00 and set a “hold” rating on the stock in a research report on Friday, March 8th. National Bankshares reduced their price target on shares of AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating on the stock in a research report on Friday, March 8th. CIBC lifted their price target on shares of AutoCanada from C$22.00 to C$25.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Finally, Scotiabank lifted their price target on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$27.95.

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.