Canadian Tire (TSE:CTC) Stock Price Down 2.8% - Here's Why

Key Points

• Canadian Tire's stock price fell by 2.8% during trading on Thursday, with shares trading at C$260.00 after previously closing at C$267.55.
• Analysts from BMO Capital Markets and TD Securities downgraded the stock from a "strong-buy" to a "hold" rating, contributing to a consensus rating of "Reduce".
• The company's market capitalization stands at C$14.06 billion, with financial metrics including a PE ratio of 19.01 and a debt-to-equity ratio of 150.68.

Canadian Tire Co., Limited (TSE:CTC - Get Free Report)'s share price dropped 2.8% during trading on Thursday . The stock traded as low as C$260.00 and last traded at C$260.00. Approximately 115 shares changed hands during trading, a decline of 76% from the average daily volume of 486 shares. The stock had previously closed at C$267.55.

Wall Street Analyst Weigh In

CTC has been the subject of a number of recent research reports. BMO Capital Markets downgraded Canadian Tire from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. TD Securities cut shares of Canadian Tire from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of C$140.00.

Canadian Tire Price Performance

The company has a market cap of C$14.06 billion, a PE ratio of 19.01, a PEG ratio of 0.49 and a beta of 0.58. The firm's 50-day moving average is C$250.80 and its 200-day moving average is C$241.65. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 150.68.

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.

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