Canadian Tire (TSE:CTC.A) PT Set at C$235.00 by Desjardins

Canadian Tire (TSE:CTC.A) received a C$235.00 price objective from equities researchers at Desjardins in a note issued to investors on Friday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Desjardins‘s target price would indicate a potential upside of 6.58% from the stock’s previous close.

A number of other analysts have also recently commented on CTC.A. Stifel Nicolaus upped their price target on shares of Canadian Tire from C$115.00 to C$220.00 and gave the company a “buy” rating in a research note on Friday, August 14th. National Bank Financial reduced their price objective on shares of Canadian Tire from C$210.00 to C$209.00 and set a “sector perform” rating for the company in a research note on Friday, August 14th. Scotia boosted their target price on shares of Canadian Tire from C$200.00 to C$225.00 and gave the company a “sector perform” rating in a report on Friday. Royal Bank Of Canada increased their target price on Canadian Tire from C$218.00 to C$230.00 and gave the stock an “outperform” rating in a research report on Sunday, August 16th. Finally, Jefferies Financial Group increased their target price on Canadian Tire from C$179.00 to C$199.00 in a research report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Tire currently has an average rating of “Hold” and a consensus price target of C$215.90.

Canadian Tire Stock Performance

TSE:CTC.A traded up C$0.73 on Friday, reaching C$220.50. 76,831 shares of the company’s stock were exchanged, compared to its average volume of 222,312. The firm has a market cap of C$11.50 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 0.35 and a beta of 0.66. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The stock has a fifty day simple moving average of C$196.30 and a 200-day simple moving average of C$190.67. Canadian Tire has a 52 week low of C$164.48 and a 52 week high of C$222.71.

About Canadian Tire

Canadian Tire Corporation, Limited (TSX: CTC.A, TSX: CTC, “CTC”) has been a proudly Canadian business since 1922. Guided by its brand purpose, “We are here to make life in Canada better,” CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada’s strongest workforces – employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life’s pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark’s, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players.