Canaccord Genuity Group Issues Pessimistic Forecast for Canadian Tire (TSE:CTC.A) Stock Price

Canadian Tire (TSE:CTC.A) had its target price decreased by stock analysts at Canaccord Genuity Group from C$158.00 to C$153.00 in a research report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target suggests a potential upside of 7.89% from the company’s current price.

Other analysts have also issued reports about the stock. TD Securities decreased their price target on shares of Canadian Tire from C$182.00 to C$176.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Royal Bank of Canada increased their target price on shares of Canadian Tire from C$188.00 to C$192.00 in a research note on Friday, November 8th. CIBC lowered their price target on Canadian Tire from C$165.00 to C$156.00 in a research note on Friday, February 14th. Finally, BMO Capital Markets upgraded Canadian Tire from a “market perform” rating to an “outperform” rating and set a C$170.00 price objective for the company in a research report on Thursday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Tire presently has a consensus rating of “Moderate Buy” and an average price target of C$149.40.

Canadian Tire Stock Down 2.1 %

CTC.A opened at C$141.81 on Thursday. Canadian Tire has a 1-year low of C$126.25 and a 1-year high of C$169.27. The business has a 50 day moving average of C$156.09 and a 200-day moving average of C$154.98. The stock has a market capitalization of C$7.40 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 0.35 and a beta of 1.33. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Insider Activity

In other news, Director Steve Frazier bought 350 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of C$152.56 per share, for a total transaction of C$53,397.68. Corporate insiders own 1.90% of the company’s stock.

About Canadian Tire

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.