TD Securities Forecasts Strong Price Appreciation for Canadian Tire (TSE:CTC.A) Stock

Key Points

• TD Securities raised the price target for Canadian Tire's stock from C$181.00 to C$201.00, indicating a potential upside of 6.19% from the previous close.
• Several research firms have also increased their target prices, with National Bank raising it to C$204.00, reflecting growing confidence in the stock.
• The stock has a consensus rating of "Moderate Buy" with an average target price of C$177.50, alongside a current trading price of C$189.28.

Canadian Tire (TSE:CTC.A - Free Report) had its target price lifted by TD Securities from C$181.00 to C$201.00 in a report issued on Monday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on CTC.A. Jefferies Financial Group raised their price objective on Canadian Tire from C$140.00 to C$164.00 in a research note on Friday, May 9th. National Bankshares raised their price objective on Canadian Tire from C$173.00 to C$204.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 16th. Desjardins lifted their price target on Canadian Tire from C$170.00 to C$175.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, BMO Capital Markets lifted their price target on Canadian Tire from C$170.00 to C$175.00 in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$177.50.

Canadian Tire Stock Performance

Shares of CTC.A traded up C$0.03 during mid-day trading on Monday, reaching C$185.61. The company's stock had a trading volume of 35,995 shares, compared to its average volume of 299,556. Canadian Tire has a 1-year low of C$136.10 and a 1-year high of C$194.39. The stock has a market cap of C$9.69 billion, a P/E ratio of 27.10, a PEG ratio of 0.35 and a beta of 1.33. The business has a 50-day simple moving average of C$182.77 and a two-hundred day simple moving average of C$162.79. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Insider Buying and Selling at Canadian Tire

In other news, Director Steve Frazier acquired 450 shares of Canadian Tire stock in a transaction on Monday, June 9th. The stock was acquired at an average cost of C$178.77 per share, with a total value of C$80,447.09. 1.90% of the stock is owned by insiders.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.