CIBC Issues Positive Forecast for Canadian Tire (TSE:CTC.A) Stock Price

Canadian Tire (TSE:CTC.A) had its price objective hoisted by CIBC from C$160.00 to C$165.00 in a research report report published on Friday morning,BayStreet.CA reports.

Several other analysts also recently weighed in on CTC.A. Desjardins lifted their target price on shares of Canadian Tire from C$165.00 to C$175.00 in a report on Friday, August 9th. Jefferies Financial Group increased their target price on Canadian Tire from C$121.00 to C$126.00 in a research note on Friday, August 9th. TD Securities upgraded Canadian Tire from a “hold” rating to a “buy” rating and lifted their price target for the company from C$160.00 to C$175.00 in a research note on Friday, August 9th. National Bankshares increased their price objective on Canadian Tire from C$146.00 to C$158.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada increased their price target on shares of Canadian Tire from C$188.00 to C$192.00 in a report on Friday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$147.89.

Canadian Tire Stock Performance

Shares of TSE CTC.A traded up C$1.34 during mid-day trading on Friday, hitting C$154.00. 272,000 shares of the company were exchanged, compared to its average volume of 234,561. 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 firm has a market cap of C$8.04 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33. The stock has a 50 day simple moving average of C$156.80 and a 200-day simple moving average of C$146.31. Canadian Tire has a 1-year low of C$126.25 and a 1-year high of C$163.00.

About Canadian Tire

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.