Canaccord Genuity Group Cuts Canadian Tire (TSE:CTC.A) Price Target to C$153.00

Canadian Tire (TSE:CTC.A) had its price target cut by Canaccord Genuity Group from C$158.00 to C$153.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the company. TD Securities decreased their target price on Canadian Tire from C$182.00 to C$176.00 and set a “buy” rating for the company in a research report on Friday, February 14th. BMO Capital Markets upgraded Canadian Tire from a “market perform” rating to an “outperform” rating and set a C$170.00 price objective for the company in a report on Thursday. CIBC dropped their target price on shares of Canadian Tire from C$165.00 to C$156.00 in a report on Friday, February 14th. Finally, Royal Bank of Canada boosted their price target on shares of Canadian Tire from C$188.00 to C$192.00 in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Canadian Tire has a consensus rating of “Moderate Buy” and a consensus price target of C$149.40.

Canadian Tire Stock Performance

Shares of TSE:CTC.A opened at C$144.92 on Thursday. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The firm has a market cap of C$7.56 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33. The firm’s 50 day simple moving average is C$156.31 and its 200-day simple moving average is C$154.97. Canadian Tire has a one year low of C$126.25 and a one year high of C$169.27.

Insiders Place Their Bets

In other news, Director Steve Frazier bought 350 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of C$152.56 per share, with a total value of C$53,397.68. 1.90% of the stock is currently owned by corporate insiders.

About Canadian Tire

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.