Canadian Tire (TSE:CTC.A) Cut to "Hold" at TD Securities

Key Points

• TD Securities downgraded Canadian Tire's rating from "buy" to "hold" and reduced its price target from C$201.00 to C$184.00, indicating a potential upside of 14.66% from the current price.
• Multiple analysts have adjusted their price targets, with BMO Capital Markets lowering it to C$175.00, while Desjardins increased theirs to C$195.00, reflecting a mix of market sentiments.
• Canadian Tire shares dropped 3.0% to C$160.47 during trading, and the company has a market capitalization of C$8.38 billion with a P/E ratio of 23.43.

Canadian Tire (TSE:CTC.A - Get Free Report) was downgraded by investment analysts at TD Securities from a "buy" rating to a "hold" rating in a research note issued on Friday,BayStreet.CA reports. They presently have a C$184.00 target price on the stock, down from their prior target price of C$201.00. TD Securities' price target suggests a potential upside of 12.37% from the company's current price.

Several other research analysts have also commented on CTC.A. BMO Capital Markets lowered Canadian Tire from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from C$191.00 to C$175.00 in a research report on Friday, August 8th. Scotiabank lifted their price target on Canadian Tire from C$145.00 to C$150.00 and gave the stock an "underperform" rating in a research report on Friday, August 8th. Desjardins lifted their price target on Canadian Tire from C$175.00 to C$195.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. National Bankshares dropped their price target on Canadian Tire from C$204.00 to C$190.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. Finally, Jefferies Financial Group lifted their price target on Canadian Tire from C$140.00 to C$164.00 in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Canadian Tire presently has an average rating of "Hold" and an average price target of C$173.22.

Canadian Tire Trading Down 0.1%

CTC.A traded down C$0.14 on Friday, hitting C$163.75. The company had a trading volume of 17,068 shares, compared to its average volume of 305,469. The company has a market cap of C$8.55 billion, a PE ratio of 23.91, a PEG ratio of 0.35 and a beta of 1.33. Canadian Tire has a 12-month low of C$139.50 and a 12-month high of C$194.39. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The business's fifty day simple moving average is C$183.10 and its 200 day simple moving average is C$163.40.

Insider Transactions at Canadian Tire

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

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.