Canaccord Genuity Group Upgrades Canadian Tire (TSE:CTC.A) to Buy

Canaccord Genuity Group upgraded shares of Canadian Tire (TSE:CTC.AGet Rating) to a buy rating in a research note published on Friday morning, TipRanks reports. They currently have C$208.00 target price on the stock.

CTC.A has been the subject of several other research reports. BMO Capital Markets decreased their price objective on Canadian Tire from C$206.00 to C$187.00 in a report on Friday, March 11th. CIBC decreased their price objective on Canadian Tire from C$244.00 to C$220.00 and set an outperform rating for the company in a report on Tuesday. Boenning Scattergood boosted their price objective on Canadian Tire from C$234.00 to C$244.00 and gave the company a buy rating in a report on Friday, February 18th. Scotiabank boosted their price objective on Canadian Tire from C$270.00 to C$273.00 in a report on Thursday, March 17th. Finally, TD Securities upped their price target on Canadian Tire from C$240.00 to C$250.00 and gave the stock a buy rating in a report on Friday, February 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of C$225.82.

TSE CTC.A opened at C$175.64 on Friday. The company has a market cap of C$10.56 billion and a price-to-earnings ratio of 9.56. Canadian Tire has a 52 week low of C$163.70 and a 52 week high of C$213.49. The business has a 50 day moving average price of C$183.03 and a 200-day moving average price of C$181.49. The company has a quick ratio of 1.30, a current ratio of 1.72 and a debt-to-equity ratio of 162.13.

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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