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

Canadian Tire Co. Limited (TSE:CTC.A) hit 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 traded. The stock had previously closed at C$134.01.

CTC.A has been the topic of several other research reports. CIBC reduced their price target on shares of Canadian Tire from C$153.00 to C$150.00 and set a “neutral” rating on the stock in a research 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 for the company in a research report on Friday, February 16th. Scotiabank dropped their price target on Canadian Tire from C$158.00 to C$150.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. National Bankshares decreased their price objective on shares of 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. Finally, TD Securities dropped their price objective on shares of 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. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$142.63.

Insider Buying and Selling at Canadian Tire

In other news, Director Steve Frazier acquired 400 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were purchased at an average price of C$103.73 per share, for a total transaction of C$41,490.00. Company insiders own 2.93% of the company’s stock.

Canadian Tire Trading Down 0.6 %

The company has a debt-to-equity ratio of 180.91, a quick ratio of 1.15 and a current ratio of 1.77. The stock has a market capitalization of C$7.09 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 2.10 and a beta of 1.37. The company’s 50 day moving average is C$133.83 and its 200 day moving average is C$139.09.

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.