Canadian Tire (TSE:CTC.A) Price Target Cut to C$209.00 by Analysts at National Bank Financial

Key Points

• National Bank Financial cut Canadian Tire’s price target from C$210 to C$209 while maintaining a “sector perform” rating, implying 5.2% upside from the current price.
• Analyst sentiment remains mixed, with three “buy” ratings and six “hold” ratings; the consensus rating is “Hold” with an average target of C$202.91.
• Canadian Tire shares fell 0.8% to C$198.67, while the company reported quarterly revenue of C$3.57 billion and EPS of C$2.02 in its latest results.

Canadian Tire (TSE:CTC.A - Get Free Report) had its price objective dropped by analysts at National Bank Financial from C$210.00 to C$209.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price target indicates a potential upside of 5.20% from the stock's current price.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus set a C$215.00 price target on Canadian Tire and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Royal Bank Of Canada increased their target price on Canadian Tire from C$216.00 to C$218.00 and gave the stock an "outperform" rating in a research note on Monday. Desjardins raised their target price on shares of Canadian Tire from C$200.00 to C$217.00 and gave the stock a "buy" rating in a report on Tuesday. TD upped their price target on shares of Canadian Tire from C$200.00 to C$210.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. Finally, 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 research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$202.91.

Canadian Tire Trading Down 0.8%

TSE CTC.A traded down C$1.63 during trading on Friday, reaching C$198.67. 39,932 shares of the stock traded hands, compared to its average volume of 227,019. The stock's 50-day moving average price is C$194.70 and its 200 day moving average price is C$188.13. 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 firm has a market cap of C$10.45 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.35 and a beta of 1.04. Canadian Tire has a fifty-two week low of C$159.20 and a fifty-two week high of C$208.08.

Canadian Tire (TSE:CTC.A - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported C$2.02 earnings per share (EPS) for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The company had revenue of C$3.57 billion during the quarter. Analysts predict that Canadian Tire will post 13.638961 EPS for the current 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.

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