CIBC Boosts Canadian Tire (TSE:CTC.A) Price Target to C$189.00

Canadian Tire (TSE:CTC.A) had its target price upped by equities research analysts at CIBC from C$181.00 to C$189.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 9.89% from the company’s previous close.

Several other brokerages have also recently commented on CTC.A. National Bankshares boosted their price objective on shares of Canadian Tire from C$185.00 to C$197.00 and gave the company a “sector perform” rating in a research note on Friday. BMO Capital Markets downgraded shares of Canadian Tire from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$191.00 to C$175.00 in a report on Friday, August 8th. TD Securities reduced their price target on shares of Canadian Tire from C$184.00 to C$183.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Desjardins increased their price objective on Canadian Tire from C$185.00 to C$190.00 in a research report on Friday. Finally, Scotiabank lifted their price objective on Canadian Tire from C$150.00 to C$155.00 and gave the company an “underperform” rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$177.13.

Canadian Tire Stock Up 1.0%

Shares of TSE CTC.A opened at C$171.99 on Friday. 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 company has a market cap of C$9.30 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.35 and a beta of 1.01. Canadian Tire has a 52 week low of C$139.50 and a 52 week high of C$194.39. The business has a 50-day simple moving average of C$168.61 and a two-hundred day simple moving average of C$172.09.

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.