Canadian Tire (TSE:CTC.A) Reaches New 1-Year Low on Analyst Downgrade

Canadian Tire Co. Limited (TSE:CTC.A)’s stock price reached a new 52-week low on Monday after Canaccord Genuity Group lowered their price target on the stock from C$40.00 to C$37.00. Canaccord Genuity Group currently has a hold rating on the stock. Canadian Tire traded as low as C$224.35 and last traded at C$136.77, with a volume of 48328 shares trading hands. The stock had previously closed at C$134.01.

CTC.A has been the subject of several other research reports. Scotiabank dropped their price target on shares of Canadian Tire from C$158.00 to C$150.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. CIBC cut their target price on Canadian Tire from C$153.00 to C$150.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Royal Bank of Canada lowered their price target on Canadian Tire from C$199.00 to C$195.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. BMO Capital Markets lowered Canadian Tire from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from C$170.00 to C$150.00 in a research report on Tuesday, February 20th. Finally, National Bankshares decreased their target price on Canadian Tire from C$146.00 to C$144.00 and set a “sector perform” rating for the company in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$142.63.

Insider Activity at Canadian Tire

In other Canadian Tire news, Director Steve Frazier acquired 400 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of C$103.73 per share, with a total value of C$41,490.00. 2.93% of the stock is currently owned by corporate insiders.

Canadian Tire Price Performance

The firm’s fifty day simple moving average is C$133.83 and its 200-day simple moving average is C$139.09. The company has a quick ratio of 1.15, a current ratio of 1.77 and a debt-to-equity ratio of 180.91. The firm has a market capitalization of C$7.09 billion, a PE ratio of 35.93, a PEG ratio of 2.10 and a beta of 1.37.

Canadian Tire Company Profile

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.