Canadian Tire (TSE:CTC.A) Hits New 1-Year Low - Here's Why

Canadian Tire Co. Limited (TSE:CTC.A) saw its stock spike to a new 52-week low during trading on Monday. The stock dropped to C$197.55 and was last seen trading at C$151.90, with 98,696 shares changing hands. It previously wrapped up the day at C$152.87.

Revised Price Targets by Analysts

In recent reports, various equity analysts have shared updates on CTC.A shares. CIBC has raised its price target for Canadian Tire from C$160.00 to C$165.00, as noted in a research report on November 8th. Similarly, Royal Bank of Canada increased their target from C$188.00 to C$192.00 on the same day. Currently, four research analysts have assigned a hold rating, while another four have provided a buy rating. According to MarketBeat.com data, the consensus rating stands at "Moderate Buy" with a collective price target of C$147.89.

Stock Performance and Metrics

As of late, Canadian Tire's stock has decreased by 0.6%. The company’s 50-day simple moving average is C$153.62, while the 200-day simple moving average is C$149.98. Financially, Canadian Tire has a debt-to-equity ratio of 173.58, with a current ratio of 1.79 and a quick ratio of 1.15. The total market capitalization of the company is C$7.93 billion, demonstrating a price-to-earnings ratio of 22.18 and a price-to-earnings-growth ratio of 0.35. The stock's beta is recorded at 1.33, suggesting higher volatility relative to the market.

Insider Transactions

In other news related to Canadian Tire, Director Steve Frazier purchased 350 shares of the company stock on December 13th. The shares were acquired at an average price of C$152.56 per share, totaling C$53,397.68. Currently, corporate insiders hold approximately 1.90% of the company's stock.

About Canadian Tire

Canadian Tire Corporation, Limited is a retail company operating throughout Canada. It offers a wide range of goods and services, organized into three main segments: Retail, CT REIT, and Financial Services. The Retail segment includes a variety of merchandise such as general goods, apparel, footwear, sporting equipment, and gasoline, marketed under well-known banners including Canadian Tire, SportChek, and Gas+.

Investment Considerations

Before making investment decisions regarding Canadian Tire, interested parties may want to consider various opinions from top-performing research analysts. As it stands, while Canadian Tire has a "Moderate Buy" rating, there are other stocks that are being promoted by analysts as potentially more lucrative investments. It might be beneficial to explore alternatives that are highlighted by top-rated analysts.

Canadian, Tire, Stocks