Canadian Tire (TSE:CTC.A) Stock Price Expected to Rise, Scotia Analyst Says

Key Points

• Scotia raised Canadian Tire’s price target to C$200 from C$180 while maintaining a “sector perform” rating, implying about 0.67% upside from the prior close.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and six rate it a Hold, producing an overall “Hold” consensus and an average price target of C$202.91.
• Canadian Tire shares fell 0.8% to C$198.67, with the company valued at C$10.45 billion and trading at a P/E ratio of 18.03. Its latest quarter included C$2.02 in EPS and C$3.57 billion in revenue.

Canadian Tire (TSE:CTC.A - Get Free Report) had its price objective hoisted by equities researchers at Scotia from C$180.00 to C$200.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotia's price objective would indicate a potential upside of 0.67% from the company's previous close.

Other equities analysts have also issued reports about the stock. TD boosted 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 report on Wednesday, July 15th. National Bank Financial reduced their target price on Canadian Tire from C$210.00 to C$209.00 and set a "sector perform" rating for the company in a report on Friday. Desjardins boosted their price target on Canadian Tire from C$200.00 to C$217.00 and gave the stock a "buy" rating in a research note on Tuesday. Royal Bank Of Canada upped their price target on Canadian Tire from C$216.00 to C$218.00 and gave the company an "outperform" rating in a report on Monday. Finally, Stifel Nicolaus set a C$215.00 price objective on Canadian Tire and gave the company a "buy" rating in a research report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating and six 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$202.91.

Canadian Tire Stock Down 0.8%

Canadian Tire stock traded down C$1.63 during trading hours on Friday, hitting C$198.67. The stock had a trading volume of 39,932 shares, compared to its average volume of 227,019. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The stock has a market capitalization of C$10.45 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 0.35 and a beta of 1.04. Canadian Tire has a 12-month low of C$159.20 and a 12-month high of C$208.08. The stock's 50-day moving average price is C$194.70 and its 200-day moving average price is C$188.13.

Canadian Tire (TSE:CTC.A - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported C$2.02 EPS for the quarter. The firm had revenue of C$3.57 billion for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. Equities research analysts anticipate 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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