Canadian Tire (TSE:CTC.A) Price Target Raised to C$195.00 at Desjardins

Key Points

• Desjardins has increased its price target for Canadian Tire (TSE:CTC.A) from C$175.00 to C$195.00, suggesting an upside of 4.88% from its current price, and maintains a "buy" rating.
• Various other brokerages, including National Bankshares and TD Securities, have also raised their price targets for the stock, with targets reaching as high as C$204.00.
• Canadian Tire's stock experienced a slight increase, trading at C$185.93, with a recent consensus rating of "Moderate Buy" and an average target price of C$180.00.

Canadian Tire (TSE:CTC.A - Free Report) had its target price lifted by Desjardins from C$175.00 to C$195.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other analysts also recently issued reports on CTC.A. TD Securities raised their target price on Canadian Tire from C$181.00 to C$201.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Jefferies Financial Group raised their target price on Canadian Tire from C$140.00 to C$164.00 in a research note on Friday, May 9th. BMO Capital Markets raised their target price on Canadian Tire from C$170.00 to C$175.00 in a research note on Friday, May 9th. Finally, National Bankshares raised their target price on Canadian Tire from C$173.00 to C$204.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of C$173.22.

Canadian Tire Price Performance

Shares of TSE:CTC.A traded down C$5.71 during midday trading on Tuesday, reaching C$159.70. 405,055 shares of the company's stock traded hands, compared to its average volume of 307,218. The company has a fifty day simple moving average of C$183.51 and a two-hundred day simple moving average of C$163.46. 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 company has a market cap of C$8.34 billion, a P/E ratio of 23.31, a PEG ratio of 0.35 and a beta of 1.33. Canadian Tire has a 1 year low of C$139.50 and a 1 year high of C$194.39.

Insider Transactions at Canadian Tire

In other Canadian Tire news, Director Steve Frazier purchased 450 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was purchased at an average cost of C$178.77 per share, with a total value of C$80,447.09. 1.90% of the stock is owned by company insiders.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited, TSX: CTC.A TSX: CTC or 'CTC', is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions.