Canadian Tire (TSE:CTC.A) Price Target Lowered to C$183.00 at TD Securities

Key Points

• TD Securities has lowered the price target for Canadian Tire from C$184.00 to C$183.00, maintaining a "hold" rating for the stock.
• Other analysts have mixed views, with Scotiabank lowering their target to C$150.00 and Desjardins raising theirs to C$195.00, resulting in an overall average target price of C$173.11.
• Canadian Tire's stock has recently traded at C$168.94, showing a slight increase of 0.1% during mid-day trading.

Canadian Tire (TSE:CTC.A - Get Free Report) had its price target cut by equities research analysts at TD Securities from C$184.00 to C$183.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD Securities' price objective points to a potential upside of 8.32% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Scotiabank boosted their price target on Canadian Tire from C$145.00 to C$150.00 and gave the stock an "underperform" rating in a research note on Friday, August 8th. Desjardins upped their price objective on Canadian Tire from C$175.00 to C$195.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. National Bankshares reduced their price objective on Canadian Tire from C$204.00 to C$190.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. Finally, BMO Capital Markets cut Canadian Tire from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from C$191.00 to C$175.00 in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of C$173.11.

Canadian Tire Stock Up 0.1%

Shares of CTC.A stock traded up C$0.17 during mid-day trading on Wednesday, hitting C$168.94. The company's stock had a trading volume of 35,530 shares, compared to its average volume of 297,509. Canadian Tire has a 52-week low of C$139.50 and a 52-week high of C$194.39. The business has a 50-day moving average price of C$169.83 and a 200 day moving average price of C$168.44. 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 stock has a market cap of C$9.13 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 0.35 and a beta of 1.01.

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.

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