Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Buys C$270,901.54 in Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. purchased 18,200 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average cost of C$14.88 per share, for a total transaction of C$270,901.54.

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

• On Wednesday, August 21st, EdgePoint Investment Group Inc. purchased 7,600 shares of AutoCanada stock. The stock was bought at an average cost of C$14.33 per share, for a total transaction of C$108,939.16.

AutoCanada Stock Up 0.5 %

Shares of TSE ACQ opened at C$14.02 on Friday. AutoCanada Inc. has a one year low of C$13.75 and a one year high of C$27.54. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25. The firm’s 50 day simple moving average is C$17.45 and its two-hundred day simple moving average is C$20.70. The stock has a market capitalization of C$325.12 million, a P/E ratio of -8.93, a PEG ratio of 0.30 and a beta of 2.54.

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

Analyst Ratings Changes

ACQ has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their price target on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. ATB Capital dropped their price objective on shares of AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. BMO Capital Markets dropped their price objective on shares of AutoCanada from C$21.00 to C$19.50 and set a “market perform” rating on the stock in a report on Wednesday, August 14th. Royal Bank of Canada decreased their price target on AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Finally, Acumen Capital decreased their price target on AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.