EdgePoint Investment Group Inc. Purchases 18,100 Shares of AutoCanada Inc. (TSE:ACQ) Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. acquired 18,100 shares of the stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of C$14.44 per share, with a total value of C$261,364.00.

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

• On Friday, September 6th, EdgePoint Investment Group Inc. acquired 11,400 shares of AutoCanada stock. The stock was acquired at an average cost of C$14.33 per share, with a total value of C$163,349.46.
• On Thursday, August 29th, EdgePoint Investment Group Inc. purchased 18,200 shares of AutoCanada stock. The shares were purchased at an average cost of C$14.88 per share, with a total value 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, for a total transaction of C$108,939.16.

AutoCanada Price Performance

ACQ opened at C$15.15 on Thursday. AutoCanada Inc. has a 12-month low of C$13.75 and a 12-month high of C$27.54. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 444.38. The firm has a market capitalization of C$351.33 million, a P/E ratio of -9.65, a PEG ratio of 0.30 and a beta of 2.54. The stock has a fifty day moving average of C$16.69 and a 200-day moving average of C$20.28.

AutoCanada (TSE:ACQ) last posted 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). The business had revenue of C$1.60 billion for the quarter, compared to analyst estimates of C$1.62 billion. AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%. Equities analysts forecast that AutoCanada Inc. will post 2.431405 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on ACQ shares. Acumen Capital cut their price target on AutoCanada from C$21.50 to C$19.75 in a research note on Thursday, August 15th. Royal Bank of Canada lowered their target price on AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. National Bankshares lowered their target price on AutoCanada from C$20.00 to C$17.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. ATB Capital decreased their price objective on AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. Finally, CIBC decreased their price objective on AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a report on Wednesday, August 14th. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus 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.