Canaccord Genuity Group Issues Pessimistic Forecast for Alimentation Couche-Tard (TSE:ATD) Stock Price

Alimentation Couche-Tard (TSE:ATD) had its price objective lowered by investment analysts at Canaccord Genuity Group from C$85.00 to C$84.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 16.78% from the company’s current price.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reduced their price target on Alimentation Couche-Tard from C$87.00 to C$85.00 in a research report on Monday, February 10th. National Bank Financial raised Alimentation Couche-Tard from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. CIBC dropped their price objective on Alimentation Couche-Tard from C$89.00 to C$87.00 and set an “outperform” rating on the stock in a research note on Tuesday. TD Securities dropped their price objective on Alimentation Couche-Tard from C$90.00 to C$89.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, Desjardins dropped their price objective on Alimentation Couche-Tard from C$87.00 to C$84.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$88.00.

Alimentation Couche-Tard Price Performance

Shares of TSE:ATD opened at C$71.93 on Thursday. Alimentation Couche-Tard has a fifty-two week low of C$69.86 and a fifty-two week high of C$85.53. The business has a 50-day moving average of C$75.58 and a two-hundred day moving average of C$76.67. The stock has a market capitalization of C$47.79 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.35 and a beta of 0.89. The company has a debt-to-equity ratio of 101.54, a current ratio of 0.99 and a quick ratio of 0.88.

About Alimentation Couche-Tard

Alimentation Couche-Tard Inc operates and licenses convenience stores in North America, Europe, and Asia. Its convenience stores sell tobacco products and alternative tobacco products, grocery items, candies and snacks, beer, wine, beverages, and fresh food offerings; road transportation fuels and electric vehicle charging solutions; and aviation fuels, as well as energy for stationary engines.