Canadian Tire (TSE:CTC.A) Price Target Raised to C$220.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised Canadian Tire’s price target to C$220 from C$115 and maintained a “buy” rating, implying 10.74% upside from the prior close.
• Analyst opinion remains mixed: Canadian Tire has three buy ratings and six holds, resulting in a consensus “hold” rating and an average target price of C$202.91.
• Shares fell 0.8% to C$198.67 in Friday trading. The company recently 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 target price raised by equities researchers at Stifel Nicolaus from C$115.00 to C$220.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 10.74% from the company's previous close.

Other equities research analysts have also issued research reports about the company. National Bank Financial reduced their price target on Canadian Tire from C$210.00 to C$209.00 and set a "sector perform" rating on the stock in a research report on Friday. Desjardins upped their target price on shares of Canadian Tire from C$200.00 to C$217.00 and gave the stock a "buy" rating in a research note on Tuesday. Scotia raised their target price on shares of Canadian Tire from C$180.00 to C$200.00 and gave the company a "sector perform" rating in a report on Friday. Royal Bank Of Canada lifted their price target on shares of Canadian Tire from C$216.00 to C$218.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, BMO Capital Markets lowered their price target on shares of 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. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Canadian Tire has a consensus rating of "Hold" and a consensus target price of C$202.91.

Canadian Tire Stock Down 0.8%

Shares of Canadian Tire stock traded down C$1.63 during trading hours on Friday, reaching C$198.67. 39,932 shares of the company were exchanged, compared to its average volume of 227,019. Canadian Tire has a 1 year low of C$159.20 and a 1 year high of C$208.08. The stock's fifty day moving average is C$194.70 and its 200 day moving average is C$188.13. 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 firm has a market cap of C$10.45 billion, a PE ratio of 18.03, a PEG ratio of 0.35 and a beta of 1.04.

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