Alimentation Couche-Tard (TSE:ATD) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Alimentation Couche-Tard Inc. (TSE:ATD) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$82.28 and traded as high as C$85.02. Alimentation Couche-Tard shares last traded at C$84.70, with a volume of 1,652,396 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ATD shares. Stifel Nicolaus dropped their target price on Alimentation Couche-Tard from C$108.00 to C$102.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. National Bank Financial lowered their target price on shares of Alimentation Couche-Tard from C$102.00 to C$101.00 and set an “outperform” rating on the stock in a research report on Thursday, September 3rd. Scotia lowered their price objective on Alimentation Couche-Tard from C$104.00 to C$102.00 and set a “sector outperform” rating on the stock in a report on Thursday, September 3rd. Royal Bank Of Canada set a C$111.00 price target on Alimentation Couche-Tard and gave the company an “outperform” rating in a report on Wednesday, September 2nd. Finally, TD lowered their target price on shares of Alimentation Couche-Tard from C$110.00 to C$103.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$99.13.

Alimentation Couche-Tard Price Performance

The stock’s 50-day moving average is C$80.66 and its 200-day moving average is C$82.28. The firm has a market cap of C$77.75 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 1.26 and a debt-to-equity ratio of 92.19.

Alimentation Couche-Tard (TSE:ATD) last released its earnings results on Tuesday, September 1st. The company reported C$1.26 EPS for the quarter. Alimentation Couche-Tard had a net margin of 3.95% and a return on equity of 19.91%. The firm had revenue of C$30.43 billion during the quarter. As a group, equities analysts anticipate that Alimentation Couche-Tard Inc. will post 4.04 EPS for the current fiscal year.

Alimentation Couche-Tard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 25th were given a $0.2150 dividend. This represents a $0.86 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 11th. Alimentation Couche-Tard’s dividend payout ratio (DPR) is 17.49%.

Insider Buying and Selling at Alimentation Couche-Tard

In other Alimentation Couche-Tard news, Director Jean Bernier sold 946 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of C$82.22, for a total value of C$77,780.12. Following the sale, the director owned 10,320 shares of the company’s stock, valued at C$848,510.40. The trade was a 8.40% decrease in their position. Also, Director Éric Boyko acquired 5,000 shares of Alimentation Couche-Tard stock in a transaction dated Tuesday, September 8th. The shares were acquired at an average cost of C$80.34 per share, with a total value of C$401,700.00. Following the completion of the acquisition, the director directly owned 47,300 shares in the company, valued at C$3,800,082. This trade represents a 11.82% increase in their position. Insiders own 18.67% of the company’s stock.

About Alimentation Couche-Tard

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.