Scotiabank Upgrades Canadian Tire (TSE:CTC.A) to “Sector Perform”

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

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

Canadian Tire Trading Up 3.0%

Shares of TSE CTC.A traded up C$5.47 during midday trading on Friday, reaching C$188.00. 194,259 shares of the stock were exchanged, compared to its average volume of 239,542. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The company has a market capitalization of C$10.04 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.35 and a beta of 0.90. The stock has a 50 day moving average price of C$174.97 and a 200-day moving average price of C$171.13. Canadian Tire has a 52-week low of C$139.50 and a 52-week high of C$196.46.

About Canadian Tire

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.