Canadian Tire (TSE:CTC.A) Price Target Raised to C$210.00 at National Bank Financial

Key Points

• National Bank Financial raised Canadian Tire’s price target from C$205.00 to C$210.00 while maintaining a “sector perform” rating, implying 3.6% upside from the prior close.
• Analyst sentiment remains mixed: Canadian Tire has an average “Hold” rating and a consensus price target of C$201.11, with three Buy ratings and five Hold ratings.
• The stock fell 1.9% to C$202.70, while the company’s latest quarter included C$2.02 in earnings per share and C$3.57 billion in revenue.

Canadian Tire (TSE:CTC.A - Get Free Report) had its target price boosted by analysts at National Bank Financial from C$205.00 to C$210.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's target price indicates a potential upside of 3.60% from the company's previous close.

A number of other research analysts also recently weighed in 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 note on Wednesday, June 10th. BMO Capital Markets decreased their price objective on Canadian Tire from C$194.00 to C$185.00 and set a "market perform" rating for the company in a report on Friday, May 15th. TD upped their target price on Canadian Tire from C$200.00 to C$210.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Desjardins cut their target price on Canadian Tire from C$203.00 to C$200.00 and set a "buy" rating on the stock in a report on Friday, May 15th. Finally, Royal Bank Of Canada cut their target price on Canadian Tire from C$220.00 to C$216.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Canadian Tire currently has an average rating of "Hold" and a consensus target price of C$201.11.

Canadian Tire Stock Down 1.9%

TSE CTC.A traded down C$3.93 on Thursday, hitting C$202.70. 37,902 shares of the company were exchanged, compared to its average volume of 227,366. 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 cap of C$10.66 billion, a PE ratio of 18.39, a PEG ratio of 0.35 and a beta of 1.04. The stock has a fifty day moving average of C$191.50 and a 200-day moving average of C$186.94. Canadian Tire has a 12 month low of C$158.18 and a 12 month high of C$208.08.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source