Alimentation Couche-Tard (TSE:ATD) Trading Down 2.4%

Posted by Defense World Staff on Mar 19th, 2023

Alimentation Couche-Tard Inc. (TSE:ATD – Get Rating)’s share price fell 2.4% during mid-day trading on Friday . The company traded as low as C$60.70 and last traded at C$61.08. 1,026,508 shares were traded during trading, a decline of 29% from the average session volume of 1,436,882 shares. The stock had previously closed at C$62.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ATD shares. CIBC raised their price objective on shares of Alimentation Couche-Tard from C$73.00 to C$76.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Alimentation Couche-Tard from C$54.00 to C$66.00 in a research note on Monday, March 6th. Raymond James boosted their price objective on shares of Alimentation Couche-Tard from C$65.00 to C$70.00 and gave the stock a “strong-buy” rating in a research note on Monday, November 28th. TD Securities boosted their price objective on shares of Alimentation Couche-Tard from C$71.00 to C$74.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus upped their target price on shares of Alimentation Couche-Tard from C$68.00 to C$74.00 in a research note on Friday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$70.69.

Alimentation Couche-Tard Trading Down 1.6 %

The business has a 50 day moving average of C$62.75 and a two-hundred day moving average of C$60.75. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 72.23. The firm has a market cap of C$61.00 billion, a P/E ratio of 16.42, a PEG ratio of 1.35 and a beta of 0.92.

Alimentation Couche-Tard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Thursday, March 23rd will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Wednesday, March 22nd. Alimentation Couche-Tard’s dividend payout ratio is 14.93%.

About Alimentation Couche-Tard

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Alimentation Couche-Tard Inc operates and licenses convenience stores. Its convenience stores sell tobacco products, grocery items, candies and snacks, beer, wine, beverages, and fresh food offerings; road transportation fuels; and aviation fuels, as well as energy for stationary engines. The company operates its convenience stores chain under the Circle K, Couche-Tard, Holiday, Ingo, and Mac's brands.