EdgePoint Investment Group Inc. Purchases 2,400 Shares of AutoCanada Inc. (TSE:ACQ) Stock

AutoCanada Inc. (TSE:ACQ) insider EdgePoint Investment Group Inc. acquired 2,400 shares of the business’s stock in a transaction on Friday, April 19th. The stock was acquired at an average price of C$24.00 per share, with a total value of C$57,588.00.

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

• On Tuesday, April 16th, EdgePoint Investment Group Inc. acquired 1,400 shares of AutoCanada stock. The stock was acquired at an average price of C$23.83 per share, with a total value of C$33,362.00.
• On Friday, April 12th, EdgePoint Investment Group Inc. acquired 4,700 shares of AutoCanada stock. The stock was acquired at an average price of C$23.75 per share, with a total value of C$111,604.79.
• On Tuesday, March 19th, EdgePoint Investment Group Inc. acquired 21,200 shares of AutoCanada stock. The stock was acquired at an average price of C$26.64 per share, with a total value of C$564,865.52.
• On Wednesday, March 13th, EdgePoint Investment Group Inc. bought 3,750 shares of AutoCanada stock. The stock was purchased at an average cost of C$23.92 per share, with a total value of C$89,694.38.

AutoCanada Stock Up 2.1 %

Shares of AutoCanada stock opened at C$24.00 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. AutoCanada Inc. has a 12 month low of C$15.14 and a 12 month high of C$27.54. The business has a fifty day simple moving average of C$23.83 and a 200 day simple moving average of C$22.54. The stock has a market cap of C$566.64 million, a PE ratio of 11.65, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, topping analysts’ consensus estimates of C$0.56 by C$0.13. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. The business had revenue of C$1.48 billion during the quarter, compared to analysts’ expectations of C$1.43 billion. Research analysts predict that AutoCanada Inc. will post 3.0424469 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ACQ. Cormark set a C$35.00 target price on AutoCanada in a research note on Tuesday, March 19th. CIBC lifted their target price on AutoCanada from C$22.00 to C$25.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Canaccord Genuity Group lowered their target price on AutoCanada from C$22.00 to C$20.00 and set a “hold” rating for the company in a research note on Friday, March 8th. National Bankshares lowered their target price on AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating for the company in a research note on Friday, March 8th. Finally, Acumen Capital lowered their target price on AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a research note on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.