Canadian Tire (TSE:CTC.A) Stock Price Expected to Rise, Desjardins Analyst Says

Canadian Tire (TSE:CTC.A) had its price target boosted by research analysts at Desjardins from C$200.00 to C$217.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 6.75% from the stock’s previous close.

CTC.A has been the topic of a number of other research reports. BMO Capital Markets decreased their price objective on shares of Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating on the stock in a report on Friday, May 15th. National Bank Financial upped their target price on shares of Canadian Tire from C$205.00 to C$210.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 6th. Royal Bank Of Canada raised their price target 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 price objective on shares of Canadian Tire and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, TD upped their price objective on Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$203.22.

Canadian Tire Price Performance

Canadian Tire stock traded up C$0.23 on Tuesday, reaching C$203.27. The company’s stock had a trading volume of 24,852 shares, compared to its average volume of 226,594. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The company has a market cap of C$10.69 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 0.35 and a beta of 1.04. The business’s fifty day moving average price is C$193.14 and its 200 day moving average price is C$187.55. Canadian Tire has a twelve month low of C$159.20 and a twelve month high of C$208.08.

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

Canadian Tire Company Profile

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.