Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Purchases C$420,900.96 in Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. bought 27,200 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average cost of C$15.47 per share, with a total value of C$420,900.96.

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

• On Wednesday, September 18th, EdgePoint Investment Group Inc. purchased 37,000 shares of AutoCanada stock. The stock was bought at an average price of C$14.98 per share, with a total value of C$554,400.60.
• On Wednesday, September 11th, EdgePoint Investment Group Inc. acquired 18,100 shares of AutoCanada stock. The shares were bought at an average cost of C$14.44 per share, with a total value of C$261,364.00.
• On Friday, September 6th, EdgePoint Investment Group Inc. acquired 11,400 shares of AutoCanada stock. The stock was bought at an average cost of C$14.33 per share, for a total transaction of C$163,349.46.
• On Thursday, August 29th, EdgePoint Investment Group Inc. bought 18,200 shares of AutoCanada stock. The shares were purchased at an average price 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 stock was purchased at an average price of C$14.33 per share, for a total transaction of C$108,939.16.

AutoCanada Trading Down 2.5 %

Shares of TSE:ACQ opened at C$16.25 on Friday. AutoCanada Inc. has a 52-week low of C$13.75 and a 52-week high of C$27.54. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03. The company has a market capitalization of C$376.84 million, a P/E ratio of -10.35, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a 50-day simple moving average of C$16.25 and a 200 day simple moving average of C$20.02.

AutoCanada (TSE:ACQ) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of C$1.62 billion. Sell-side analysts forecast that AutoCanada Inc. will post 2.5376506 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. CIBC dropped 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. Cormark cut their price objective on shares of AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. ATB Capital decreased their target price on shares of AutoCanada from C$25.00 to C$20.00 in a research report on Wednesday, August 14th. Acumen Capital cut their price target on shares of AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. Finally, BMO Capital Markets decreased their price objective 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. One equities research 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. Based on data from MarketBeat.com, AutoCanada presently has a consensus rating of “Hold” and an average price target 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.