Canaccord Genuity Group Has Lowered Expectations for Canadian Tire (TSE:CTC.A) Stock Price

Canadian Tire (TSE:CTC.A) had its price target cut by stock analysts at Canaccord Genuity Group from C$158.00 to C$153.00 in a report released on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price objective suggests a potential upside of 7.89% from the company’s current price.

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

Canadian Tire Stock Performance

Shares of CTC.A opened at C$141.81 on Thursday. The company has a market capitalization of C$7.40 billion, a PE ratio of 20.70, a PEG ratio of 0.35 and a beta of 1.33. 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 company’s 50 day moving average price is C$156.09 and its 200 day moving average price is C$154.98. Canadian Tire has a 52 week low of C$126.25 and a 52 week high of C$169.27.

Insiders Place Their Bets

In other news, Director Steve Frazier acquired 350 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of C$152.56 per share, with a total value of C$53,397.68. Insiders own 1.90% of the company’s stock.

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.