Canadian Tire (TSE:CTC.A) Price Target Raised to C$217.00

Key Points

• Desjardins raised Canadian Tire’s price target from C$200 to C$217 and maintained a “buy” rating, implying 6.75% upside from the previous close.
• Analyst views remain mixed: three analysts rate the stock a buy and five rate it a hold, resulting in an overall “hold” consensus and average price target of C$203.22.
• Canadian Tire shares traded at C$203.27, near their 52-week high of C$208.08. The company reported quarterly revenue of C$3.57 billion and earnings of C$2.02 per share.

Canadian Tire (TSE:CTC.A - Get Free Report) had its price target lifted by research analysts at Desjardins from C$200.00 to C$217.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price objective would indicate a potential upside of 6.75% from the stock's previous close.

CTC.A has been the topic of several other reports. BMO Capital Markets decreased their target price on shares of Canadian Tire from C$194.00 to C$185.00 and set a "market perform" rating on the stock in a research report on Friday, May 15th. Stifel Nicolaus set a C$215.00 price objective on Canadian Tire and gave the company a "buy" rating in a report on Wednesday, June 10th. TD upped their price objective on Canadian Tire from C$200.00 to C$210.00 and gave the company a "hold" rating in a research note on Wednesday, July 15th. National Bank Financial increased their target price on Canadian Tire from C$205.00 to C$210.00 and gave the stock a "sector perform" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada raised their target price on Canadian Tire from C$216.00 to C$218.00 and gave the stock an "outperform" rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$203.22.

Canadian Tire Stock Performance

CTC.A traded up C$0.23 on Tuesday, hitting C$203.27. 24,852 shares of the stock traded hands, compared to its average volume of 226,594. The business has a fifty day moving average price of C$193.14 and a two-hundred day moving average price of C$187.55. 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 firm has a market capitalization of C$10.69 billion, a PE ratio of 18.45, a P/E/G ratio of 0.35 and a beta of 1.04. Canadian Tire has a 52 week low of C$159.20 and a 52 week high of C$208.08.

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

About Canadian Tire

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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