Canadian Tire (TSE:CTC.A) Price Target Cut to C$37.00 by Analysts at Canaccord Genuity Group

Canadian Tire (TSE:CTC.A) had its price target reduced by Canaccord Genuity Group from C$40.00 to C$37.00 in a research note published on Monday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other analysts also recently issued reports on CTC.A. BMO Capital Markets downgraded Canadian Tire from an outperform rating to a market perform rating and dropped their price target for the company from C$170.00 to C$150.00 in a research report on Tuesday, February 20th. TD Securities dropped their price target on Canadian Tire from C$160.00 to C$155.00 and set a hold rating for the company in a research report on Friday, February 16th. CIBC dropped their target price on 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. Scotiabank dropped their target price on 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. Finally, National Bankshares dropped 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 research report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of C$142.63.

Canadian Tire Stock Up 6.9 %

Shares of TSE CTC.A opened at C$145.65 on Monday. Canadian Tire has a 52 week low of C$126.25 and a 52 week high of C$189.82. The business has a 50-day simple moving average of C$133.92 and a two-hundred day simple moving average of C$139.11. 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 company has a market cap of C$7.60 billion, a P/E ratio of 38.53, a P/E/G ratio of 2.10 and a beta of 1.37.

Insider Buying and Selling

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

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.