Price Target for Canadian Tire Adjusted by Canaccord Genuity

Analysts at Canaccord Genuity Group have decreased their price target for shares of Canadian Tire (TSE:CTC.A) from C$158.00 to C$153.00. This adjustment was reported in a research note released to investors on Thursday. The new target price suggests a potential upside of 5.60% based on the company’s previous closing price.

Additionally, Canadian Tire has been featured in various analyses from other financial institutions. For example, TD Securities reduced their target price from C$182.00 to C$176.00 while maintaining a 'buy' rating on the stock. This was noted in a research report dated February 14th.

Similarly, Royal Bank of Canada increased its target for Canadian Tire from C$188.00 to C$192.00 in a report released on November 8th. On the same day, CIBC lowered its target price from C$165.00 to C$156.00. BMO Capital Markets, on the other hand, upgraded their assessment of Canadian Tire, changing their rating from 'market perform' to 'outperform' and setting a target price of C$170.00.

Currently, three analysts rate Canadian Tire as a hold, while three others have given it a buy rating. As per MarketBeat data, the stock has a consensus rating of 'Moderate Buy' along with an average price target of C$149.40.

Recent Price Movements

On Thursday, shares of TSE CTC.A dropped by C$0.21 during midday trading, reaching a price of C$144.88. The trading volume for this session was 84,112 shares, which is lower than its average of 341,605 shares. The stock's 50-day moving average stands at C$156.51 while the 200-day moving average is C$154.95. Canadian Tire holds a market capitalization of C$7.56 billion, with a price-to-earnings ratio of 21.15 and a P/E/G ratio of 0.35.

Insider Activity

In related news, Steve Frazier, a director at Canadian Tire, purchased 350 shares on December 13th at an average price of C$152.56, totaling a transaction value of C$53,397.68. Insider ownership currently represents about 1.90% of the company's stock.

Overview of Canadian Tire Corporation

Canadian Tire Corporation, Limited operates a diverse range of retail goods and services throughout Canada. The company is organized into three primary segments: Retail, CT REIT, and Financial Services. The Retail segment encompasses a wide array of products including general merchandise, apparel, footwear, sports equipment, and automotive supplies, marketed under multiple brand banners.

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