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

Canadian Tire Co. Limited (TSE:CTC.A) shares reached a new 52-week low during mid-day trading 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 topic of several other research reports. Desjardins decreased their target price on Canadian Tire from C$170.00 to C$160.00 and set a “buy” rating on the stock in a report on Friday, February 16th. CIBC decreased their target price on Canadian Tire from C$153.00 to C$150.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Royal Bank of Canada decreased their target price on Canadian Tire from C$199.00 to C$195.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. TD Securities decreased their target price on Canadian Tire from C$160.00 to C$155.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Finally, BMO Capital Markets cut Canadian Tire from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$170.00 to C$150.00 in a report on Tuesday, February 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Canadian Tire presently has a consensus rating of “Hold” and a consensus target price of C$142.63.

Insider Transactions at Canadian Tire

In other news, Director Steve Frazier acquired 400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was acquired at an average cost of C$103.73 per share, for a total transaction of C$41,490.00. 2.93% of the stock is currently owned by insiders.

Canadian Tire Stock Performance

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 stock has a 50 day simple moving average of C$133.89 and a two-hundred day simple moving average of C$139.09. The stock has a market capitalization of C$7.13 billion, a P/E ratio of 36.14, a P/E/G 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.