Canadian Tire (TSE:CTC.A) Price Target Raised to C$217.00

Canadian Tire (TSE:CTC.A) had its target price lifted by Desjardins from C$200.00 to C$217.00 in a research report released on Tuesday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets lowered their price objective on shares of Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating for the company in a report on Friday, May 15th. Royal Bank Of Canada increased their target price on shares of Canadian Tire from C$216.00 to C$218.00 and gave the company an “outperform” rating in a report on Monday. Stifel Nicolaus set a C$215.00 target price on shares of Canadian Tire and gave the stock a “buy” rating in a research report on Wednesday, June 10th. TD boosted their price target on shares of Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Finally, National Bank Financial upped their price target on shares of Canadian Tire from C$205.00 to C$210.00 and gave the company a “sector perform” rating in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$203.22.

Canadian Tire Stock Performance

Shares of TSE CTC.A opened at C$200.30 on Tuesday. The stock’s 50-day moving average is C$194.70 and its 200 day moving average is C$188.13. The stock has a market cap of C$10.54 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 0.35 and a beta of 1.04. Canadian Tire has a 1-year low of C$159.20 and a 1-year high of C$208.08. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Canadian Tire (TSE:CTC.A) last issued its earnings results on Thursday, May 14th. The company reported C$2.02 earnings per share (EPS) for the quarter. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.The business had revenue of C$3.57 billion during the quarter. On average, sell-side analysts anticipate that Canadian Tire will post 13.638961 EPS for the current fiscal year.

About Canadian Tire

Canadian Tire Corporation, Limited (TSX: CTC.A, TSX: CTC, “CTC”) has been a proudly Canadian business since 1922. Guided by its brand purpose, “We are here to make life in Canada better,” CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada’s strongest workforces – employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life’s pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark’s, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players.