BMO Capital Markets Downgrades Canadian Tire (TSE:CTC.A) to Market Perform

Key Points

• Canadian Tire has been downgraded by BMO Capital Markets from an "outperform" to a "market perform" rating, with a new price target set at C$175.00, down from C$191.00.
• Other analysts have mixed views, with targets ranging from C$145.00 to C$204.00, and a consensus rating of "Hold" for the stock.
• The company's stock traded down C$4.94 to C$160.47, with a market capitalization of C$8.38 billion and a P/E ratio of 23.43.

BMO Capital Markets lowered shares of Canadian Tire (TSE:CTC.A - Free Report) from an outperform rating to a market perform rating in a research report report published on Friday,BayStreet.CA reports. BMO Capital Markets currently has C$175.00 price target on the stock, down from their prior price target of C$191.00.

A number of other equities analysts have also recently commented on the company. TD Securities raised their target price on Canadian Tire from C$181.00 to C$201.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Jefferies Financial Group raised their target price on Canadian Tire from C$140.00 to C$164.00 in a report on Friday, May 9th. National Bankshares decreased their target price on Canadian Tire from C$204.00 to C$190.00 and set a "sector perform" rating on the stock in a report on Friday, August 8th. Scotiabank raised their target price on Canadian Tire from C$145.00 to C$150.00 and gave the stock an "underperform" rating in a report on Friday, August 8th. Finally, Desjardins increased their price target on Canadian Tire from C$175.00 to C$195.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of C$173.22.

Canadian Tire Stock Performance

Canadian Tire stock traded down C$0.14 during trading on Friday, reaching C$163.75. The company had a trading volume of 17,068 shares, compared to its average volume of 305,469. Canadian Tire has a 52 week low of C$139.50 and a 52 week high of C$194.39. The firm's 50-day simple moving average is C$183.10 and its 200 day simple moving average is C$163.40. The firm has a market capitalization of C$8.55 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Insider Buying and Selling

In other Canadian Tire news, Director Steve Frazier purchased 450 shares of the firm's stock in a transaction on Monday, June 9th. The shares were acquired at an average cost of C$178.77 per share, with a total value of C$80,447.09. 1.90% of the stock is currently owned by corporate insiders.

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.