Canadian Tire (TSE:CTC.A) Upgraded at Scotiabank

Canadian Tire (TSE:CTC.A) was upgraded by analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a report issued on Friday,BayStreet.CA reports. The firm currently has a C$180.00 target price on the stock, up from their prior target price of C$160.00. Scotiabank’s target price points to a potential downside of 4.26% from the company’s current price.

Several other brokerages also recently issued reports on CTC.A. National Bank Financial raised their price objective on shares of Canadian Tire from C$197.00 to C$201.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. TD Securities raised their price target on Canadian Tire from C$183.00 to C$194.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Desjardins upped their price objective on Canadian Tire from C$190.00 to C$203.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets increased their price objective on Canadian Tire from C$180.00 to C$194.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian Tire from C$181.00 to C$189.00 in a research report on Friday, November 7th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$192.29.

Canadian Tire Stock Up 3.0%

Shares of Canadian Tire stock traded up C$5.47 during trading hours on Friday, reaching C$188.00. 194,259 shares of the company were exchanged, compared to its average volume of 239,542. The firm has a market cap of C$10.04 billion, a PE ratio of 14.26, a PEG ratio of 0.35 and a beta of 0.90. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. Canadian Tire has a 1 year low of C$139.50 and a 1 year high of C$196.46. The stock’s fifty day moving average is C$174.97 and its 200 day moving average is C$171.13.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.