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

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

CTC.A has been the subject of a number of other reports. CIBC dropped their price target on shares of Canadian Tire from C$153.00 to C$150.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. National Bankshares cut their price target on shares of Canadian Tire from C$146.00 to C$144.00 and set a “sector perform” rating on the stock in a research note on Monday, April 29th. Desjardins lowered their price objective on shares of Canadian Tire from C$170.00 to C$160.00 and set a “buy” rating for the company in a research note on Friday, February 16th. TD Securities cut their target price on shares of Canadian Tire from C$160.00 to C$155.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, Royal Bank of Canada cut their target price on Canadian Tire from C$199.00 to C$195.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$142.63.

Insider Buying and Selling

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

Canadian Tire Price Performance

The company’s 50 day simple moving average is C$133.95 and its 200-day simple moving average is C$139.11. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 180.91. The company has a market capitalization of C$7.11 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 2.10 and a beta of 1.37.

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.