Canadian Tire (TSE:CTC.A) Reaches New 52-Week Low After Analyst Downgrade

Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday after Canaccord Genuity Group lowered their price target on the stock from C$40.00 to C$37.00. Canaccord Genuity Group currently has a hold rating on the stock. Canadian Tire traded as low as C$224.35 and last traded at C$136.77, with a volume of 48328 shares traded. The stock had previously closed at C$134.01.

Several other research firms have also recently commented on CTC.A. National Bankshares cut their target price on shares of Canadian Tire from C$146.00 to C$144.00 and set a "sector perform" rating for the company in a research note on Monday, April 29th. Royal Bank of Canada decreased their target price on Canadian Tire from C$199.00 to C$195.00 and set an "outperform" rating on the stock in a research report on Friday, February 16th. TD Securities reduced their price objective on Canadian Tire from C$160.00 to C$155.00 and set a "hold" rating for the company in a research report on Friday, February 16th. CIBC decreased their price objective on Canadian Tire from C$153.00 to C$150.00 and set a "neutral" rating on the stock in a report on Friday, February 16th. Finally, Scotiabank cut their target price on Canadian Tire from C$158.00 to C$150.00 and set an "outperform" rating for the company in a research note on Friday, February 16th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$142.63.

Insider Activity at Canadian Tire

In other Canadian Tire news, Director Steve Frazier purchased 400 shares of Canadian Tire stock in a transaction that occurred on Wednesday, February 21st. The stock was acquired at an average price of C$103.73 per share, for a total transaction of C$41,490.00. 2.93% of the stock is owned by company insiders.

Canadian Tire Stock Up 1.9 %

The stock's fifty day simple moving average is C$133.95 and its 200-day simple moving average is C$139.11. The stock has a market cap of C$7.13 billion, a P/E ratio of 36.07, a P/E/G ratio of 2.10 and a beta of 1.37. The company has a debt-to-equity ratio of 180.91, a quick ratio of 1.15 and a current ratio of 1.77.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.