CIBC Boosts Alimentation Couche-Tard (TSE:ATD) Price Target to C$89.00

Alimentation Couche-Tard (TSE:ATD) had its price target boosted by CIBC from C$88.00 to C$89.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

A number of other analysts have also issued reports on ATD. Stifel Nicolaus boosted their target price on Alimentation Couche-Tard from C$86.00 to C$88.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on Alimentation Couche-Tard from C$83.00 to C$87.00 in a report on Thursday, September 19th. National Bankshares raised their target price on Alimentation Couche-Tard from C$85.00 to C$87.00 in a report on Wednesday. Royal Bank of Canada cut their price target on shares of Alimentation Couche-Tard from C$96.00 to C$94.00 in a research note on Thursday, September 5th. Finally, Canaccord Genuity Group raised their price objective on shares of Alimentation Couche-Tard from C$83.00 to C$85.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$87.73.

Alimentation Couche-Tard Stock Down 1.1 %

Shares of TSE:ATD opened at C$81.91 on Wednesday. The company has a market capitalization of C$77.65 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.35 and a beta of 0.89. Alimentation Couche-Tard has a 12-month low of C$71.31 and a 12-month high of C$87.27. The business has a 50-day moving average price of C$75.61 and a 200 day moving average price of C$77.84. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 102.11.

Alimentation Couche-Tard (TSE:ATD) last announced its earnings results on Wednesday, September 4th. The company reported C$1.13 earnings per share for the quarter, topping the consensus estimate of C$1.11 by C$0.02. The company had revenue of C$24.99 billion during the quarter, compared to analyst estimates of C$24.73 billion. Alimentation Couche-Tard had a net margin of 3.73% and a return on equity of 19.72%. Sell-side analysts expect that Alimentation Couche-Tard will post 4.0410959 EPS for the current year.

Alimentation Couche-Tard Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 18th will be paid a $0.195 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.78 dividend on an annualized basis and a yield of 0.95%. This is an increase from Alimentation Couche-Tard’s previous quarterly dividend of $0.18. Alimentation Couche-Tard’s payout ratio is currently 18.09%.

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.