Insider Buying: AutoCanada Inc. (TSE:ACQ) Insider Acquires 4,880 Shares of Stock

AutoCanada Inc. (TSE:ACQ - Get Free Report) insider EdgePoint Investment Group Inc. bought 4,880 shares of AutoCanada stock in a transaction dated Wednesday, May 21st. The shares were bought at an average cost of C$19.78 per share, for a total transaction of C$96,548.36.

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

• On Thursday, May 22nd, EdgePoint Investment Group Inc. acquired 280 shares of AutoCanada stock. The stock was acquired at an average cost of C$19.55 per share, for a total transaction of C$5,474.39.
• On Friday, May 16th, EdgePoint Investment Group Inc. acquired 80,840 shares of AutoCanada stock. The stock was acquired at an average cost of C$20.50 per share, for a total transaction of C$1,657,317.01.

AutoCanada Stock Performance

AutoCanada stock traded down C$0.23 during mid-day trading on Thursday, reaching C$21.62. 110,844 shares of the company's stock were exchanged, compared to its average volume of 23,454. The business's fifty day simple moving average is C$17.14 and its 200 day simple moving average is C$17.68. The firm has a market capitalization of C$503.13 million, a PE ratio of -9.98, a P/E/G ratio of 0.30 and a beta of 2.54. AutoCanada Inc. has a one year low of C$13.75 and a one year high of C$22.40. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 451.54.

Wall Street Analysts Forecast Growth

ACQ has been the topic of several research analyst reports. Acumen Capital raised AutoCanada from a "hold" rating to a "speculative buy" rating and raised their price objective for the company from C$20.00 to C$22.50 in a research note on Friday, March 21st. Canaccord Genuity Group increased their target price on AutoCanada from C$22.00 to C$24.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. ATB Capital increased their target price on AutoCanada from C$18.00 to C$18.50 and gave the company a "sector perform" rating in a research report on Thursday, March 27th. Cibc World Mkts upgraded AutoCanada from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, CIBC upgraded AutoCanada from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from C$15.00 to C$23.00 in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$20.31.

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.