Canadian Tire (TSE:CTC) Trading Down 0% - What's Next?

Key Points

• Canadian Tire's stock price remained stable at C$250.00, with a significant drop in trading volume, declining by 69% from its average daily volume.
• Recent analyst reports have led to downgrades of Canadian Tire shares from "strong-buy" to "hold" ratings, resulting in a consensus target price of C$140.00.
• The company has a market capitalization of C$13.52 billion, with a price-to-earnings ratio of 18.27 and a debt-to-equity ratio of 150.68.

Canadian Tire Co., Limited (TSE:CTC - Get Free Report)'s share price dropped 0% on Thursday . The stock traded as low as C$250.00 and last traded at C$250.00. Approximately 148 shares were traded during trading, a decline of 69% from the average daily volume of 479 shares. The stock had previously closed at C$250.01.

Analysts Set New Price Targets

CTC has been the subject of a number of recent analyst reports. TD Securities downgraded shares of Canadian Tire from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. BMO Capital Markets downgraded shares of Canadian Tire from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of C$140.00.

Canadian Tire Stock Performance

The stock's 50-day moving average is C$251.57 and its 200-day moving average is C$246.17. The firm has a market capitalization of C$13.52 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 0.49 and a beta of 0.62. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 150.68.

About Canadian Tire

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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