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

Canadian Tire (TSE:CTC.A) had its price objective lifted by analysts at Desjardins from C$185.00 to C$190.00 in a research note issued to investors on Friday,BayStreet.CA reports. Desjardins’ price target would suggest a potential upside of 10.47% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. BMO Capital Markets cut Canadian Tire from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$191.00 to C$175.00 in a report on Friday, August 8th. Scotiabank increased their price objective on shares of Canadian Tire from C$150.00 to C$155.00 and gave the stock an “underperform” rating in a research report on Friday. TD Securities cut their price objective on Canadian Tire from C$184.00 to C$183.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Finally, National Bankshares boosted their price objective on Canadian Tire from C$185.00 to C$197.00 and gave the stock a “sector perform” rating in a research note on Friday. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$178.78.

Canadian Tire Trading Up 1.0%

Shares of CTC.A stock traded up C$1.65 on Friday, reaching C$171.99. 271,423 shares of the stock were exchanged, compared to its average volume of 296,822. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The stock has a market cap of C$9.30 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 0.35 and a beta of 1.01. The firm has a 50 day moving average of C$168.59 and a two-hundred day moving average of C$171.78. Canadian Tire has a 1-year low of C$139.50 and a 1-year high of C$194.39.

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.