Alimentation Couche-Tard (TSE:ATD) Reaches New 12-Month High on Analyst Upgrade

Alimentation Couche-Tard Inc. (TSE:ATD) shares hit a new 52-week high on Tuesday after Stifel Nicolaus raised their price target on the stock from C$93.00 to C$102.00. Stifel Nicolaus currently has a buy rating on the stock. Alimentation Couche-Tard traded as high as C$92.34 and last traded at C$91.15, with a volume of 642659 shares changing hands. The stock had previously closed at C$82.26.

Several other brokerages also recently commented on ATD. JPMorgan Chase & Co. set a C$95.00 target price on Alimentation Couche-Tard and gave the company an “overweight” rating in a research note on Thursday, March 26th. Canadian Imperial Bank of Commerce boosted their price target on Alimentation Couche-Tard from C$89.00 to C$102.00 in a research note on Wednesday. Canaccord Genuity Group upped their price target on Alimentation Couche-Tard from C$94.00 to C$101.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank Of Canada increased their price objective on Alimentation Couche-Tard from C$104.00 to C$106.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Desjardins lifted their price objective on Alimentation Couche-Tard from C$92.00 to C$101.00 and gave the stock a “buy” rating in a report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$100.87.

Alimentation Couche-Tard News Roundup

Here are the key news stories impacting Alimentation Couche-Tard this week:

• Positive Sentiment: Stifel Nicolaus raised its target to C$102 and kept a buy rating, citing modest upside from recent levels. BayStreet.CA
• Positive Sentiment: TD lifted its target to C$109 and reiterated a buy rating, implying one of the larger upside views among the recent notes. Tickerreport.com
• Positive Sentiment: Desjardins, Canaccord Genuity, National Bank Financial, UBS, Raymond James, CIBC, and Scotia all raised targets as well, with most keeping buy/outperform-style ratings, reinforcing a bullish analyst consensus. BayStreet.CA
• Neutral Sentiment: BMO Capital Markets also increased its target, but maintained a more cautious market-perform rating, suggesting some analysts still see limited near-term relative upside. BayStreet.CA
• Neutral Sentiment: RBC Capital recently reiterated a buy view on ATD, adding to the broader supportive analyst backdrop. Globe and Mail

Alimentation Couche-Tard Stock Performance

The company has a debt-to-equity ratio of 101.65, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a market cap of C$86.09 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.35 and a beta of 0.74. The business’s 50-day moving average price is C$80.11 and its 200-day moving average price is C$78.46.

Alimentation Couche-Tard (TSE:ATD) last announced its earnings results on Monday, June 22nd. The company reported C$1.00 EPS for the quarter. Alimentation Couche-Tard had a return on equity of 20.01% and a net margin of 4.11%. As a group, sell-side analysts expect that Alimentation Couche-Tard Inc. will post 4.0410959 earnings per share for the current fiscal year.

Alimentation Couche-Tard Company Profile

Alimentation Couche-Tard Inc operates a network of convenience stores across North America, Ireland, Scandinavia, Poland, the Baltics, and Russia. The company primarily generates income through the sale of tobacco products, groceries, beverages, fresh food, quick service restaurants, car wash services, other retail products and services, road transportation fuel, stationary energy, marine fuel, and chemicals. In addition, the company operates more stores under the Circle K banner in other countries such as China, Egypt, and Malaysia.