Alimentation Couche-Tard (TSE:ATD) Hits New 1-Year Low After Analyst Downgrade

Alimentation Couche-Tard Inc. (TSE:ATD) reached a new 52-week low on Wednesday after TD Securities lowered their price target on the stock from C$90.00 to C$89.00. TD Securities currently has a buy rating on the stock. Alimentation Couche-Tard traded as low as C$71.25 and last traded at C$71.49, with a volume of 67334 shares trading hands. The stock had previously closed at C$72.01.

Several other equities research analysts have also recently issued reports on the company. BMO Capital Markets reduced their target price on Alimentation Couche-Tard from C$87.00 to C$85.00 in a 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. UBS Group set a C$97.00 price target on Alimentation Couche-Tard and gave the company a “buy” rating in a report on Friday, December 13th. Desjardins reduced 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 report on Tuesday, February 11th. Finally, Scotiabank set a C$91.00 target price on Alimentation Couche-Tard and gave the stock an “outperform” rating in a report on Friday, December 20th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alimentation Couche-Tard presently has an average rating of “Moderate Buy” and an average target price of C$88.50.

Alimentation Couche-Tard Stock Performance

The company has a market capitalization of C$47.50 billion, a PE ratio of 18.65, a PEG ratio of 1.35 and a beta of 0.89. The firm has a 50-day moving average of C$77.07 and a two-hundred day moving average of C$77.14. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 101.54.

Alimentation Couche-Tard Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 1.09%. This is a positive change from Alimentation Couche-Tard’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, December 4th. Alimentation Couche-Tard’s payout ratio is 18.26%.

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.