Canadian Tire (TSE:CTC) Trading Down 3.2% - Here's What Happened

Key Points

• Shares of Canadian Tire (TSE:CTC) are down 3.2%, trading around C$243.00, following a low of C$240.00 during midday trading.
• The stock has a market capitalization of C$9.30 billion and a price-to-earnings ratio of 13.95, indicating potential valuation considerations for investors.
• Canadian Tire operates a diverse range of businesses including retail and financial services, and has established a significant presence in the Canadian market since 1922.

Canadian Tire Co., Limited (TSE:CTC - Get Free Report)'s share price dropped 3.2% on Friday . The stock traded as low as C$240.00 and last traded at C$243.00. Approximately 966 shares were traded during trading, an increase of 89% from the average daily volume of 510 shares. The stock had previously closed at C$251.00.

Analysts Set New Price Targets

CTC has been the topic of several recent analyst reports. TD Securities downgraded Canadian Tire from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. BMO Capital Markets downgraded Canadian Tire from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th.

Canadian Tire Stock Down 5.3%

The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 150.68. The firm has a market cap of C$8.80 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.49 and a beta of 1.33. The firm has a 50-day moving average of C$258.09 and a two-hundred day moving average of C$235.86.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited, TSX: CTC.A TSX: CTC or 'CTC', is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions.