Canadian Tire (TSE:CTC.A) Price Target Raised to C$218.00

Key Points

• Royal Bank of Canada raised Canadian Tire’s price target to C$218 from C$216 and maintained an “outperform” rating, implying 6.71% upside from the reported share price.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and five rate it a Hold, resulting in a consensus “Hold” rating and an average target price of C$201.33.
• Canadian Tire shares traded at C$204.29, near their 12-month 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 objective increased by research analysts at Royal Bank Of Canada from C$216.00 to C$218.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 6.71% from the company's current price.

A number of other equities analysts have also recently issued reports on the stock. TD upped their price objective on shares of 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. BMO Capital Markets reduced their price target on 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 target on Canadian Tire and gave the company a "buy" rating in a research note on Wednesday, June 10th. Desjardins lowered their price objective on Canadian Tire from C$203.00 to C$200.00 and set a "buy" rating for the company in a research report on Friday, May 15th. Finally, National Bank Financial lifted their price objective on Canadian Tire from C$205.00 to C$210.00 and gave the stock a "sector perform" rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Canadian Tire has a consensus rating of "Hold" and a consensus target price of C$201.33.

Canadian Tire Stock Performance

Shares of TSE:CTC.A traded down C$1.87 during trading on Monday, reaching C$204.29. 18,666 shares of the stock were exchanged, compared to its average volume of 226,665. Canadian Tire has a 12 month low of C$159.20 and a 12 month high of C$208.08. The firm has a market cap of C$10.75 billion, a PE ratio of 18.54, a PEG ratio of 0.35 and a beta of 1.04. The stock has a 50-day moving average price of C$192.61 and a 200-day moving average price of C$187.35. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Canadian Tire (TSE:CTC.A - Get Free Report) last announced its earnings results 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. Research analysts expect that Canadian Tire will post 13.638961 EPS for the current fiscal 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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