Canadian Tire (TSE:CTC.A) Reaches New 12-Month Low Following Analyst Downgrade

Canadian Tire Co. Limited (TSE:CTC.AGet Free Report) hit a new 52-week low during trading on Monday after Scotiabank lowered their price target on the stock from C$160.00 to C$148.00. Scotiabank currently has an outperform rating on the stock. Canadian Tire traded as low as C$249.00 and last traded at C$143.15, with a volume of 76470 shares traded. The stock had previously closed at C$141.02.

Several other equities research analysts also recently commented on the company. Royal Bank of Canada decreased their price objective on Canadian Tire from C$205.00 to C$199.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Canaccord Genuity Group downgraded Canadian Tire from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$167.00 to C$154.00 in a report on Wednesday, February 7th. National Bankshares decreased their price target on Canadian Tire from C$166.00 to C$152.00 and set a “sector perform” rating for the company in a report on Friday, November 10th. CIBC decreased their price target on Canadian Tire from C$177.00 to C$153.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Finally, TD Securities decreased their price target on Canadian Tire from C$185.00 to C$160.00 and set a “hold” rating for the company in a report on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Canadian Tire has an average rating of “Moderate Buy” and an average price target of C$167.56.

Read Our Latest Stock Report on Canadian Tire

Insider Buying and Selling

In related news, Director Cathryn Elizabeth Cranston acquired 350 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average price of C$143.69 per share, with a total value of C$50,291.50. In other Canadian Tire news, Director Robert James Anderson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of C$146.71, for a total value of C$293,420.00. Also, Director Cathryn Elizabeth Cranston purchased 350 shares of the stock in a transaction on Monday, December 4th. The stock was acquired at an average cost of C$143.69 per share, for a total transaction of C$50,291.50. 2.93% of the stock is currently owned by insiders.

Canadian Tire Price Performance

The company has a debt-to-equity ratio of 171.98, a quick ratio of 1.15 and a current ratio of 1.74. The stock has a market capitalization of C$7.44 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 2.10 and a beta of 1.34. The firm has a 50-day moving average price of C$143.04 and a 200 day moving average price of C$147.48.

Canadian Tire Company Profile

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Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.

Further Reading

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