CIBC Lowers Canadian Tire (TSE:CTC.A) Price Target to C$220.00

Canadian Tire (TSE:CTC.AGet Rating) had its price target decreased by analysts at CIBC from C$244.00 to C$220.00 in a research report issued on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price indicates a potential upside of 28.37% from the stock’s previous close.

CTC.A has been the topic of a number of other reports. TD Securities upped their target price on Canadian Tire from C$240.00 to C$250.00 and gave the company a “buy” rating in a research report on Friday, February 18th. Canaccord Genuity Group upped their target price on Canadian Tire from C$218.00 to C$222.00 in a research report on Friday, February 18th. National Bankshares cut their target price on Canadian Tire from C$236.00 to C$212.00 and set an “outperform” rating on the stock in a research report on Tuesday. Scotiabank upped their target price on Canadian Tire from C$270.00 to C$273.00 in a research report on Thursday, March 17th. Finally, Royal Bank of Canada upped their target price on Canadian Tire from C$255.00 to C$260.00 and gave the company an “outperform” rating in a research report on Friday, February 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$227.36.

Shares of TSE:CTC.A traded up C$1.34 during mid-day trading on Tuesday, hitting C$171.38. 117,655 shares of the company traded hands, compared to its average volume of 201,135. The firm has a market cap of C$10.31 billion and a P/E ratio of 9.32. The company has a debt-to-equity ratio of 162.13, a quick ratio of 1.30 and a current ratio of 1.72. Canadian Tire has a 52-week low of C$168.51 and a 52-week high of C$213.85. The firm’s 50 day simple moving average is C$183.65 and its 200 day simple moving average is C$181.79.

About Canadian Tire (Get Rating)

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.

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