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

Canadian Tire (TSE:CTC.A) had its target price raised by equities research analysts at Desjardins from C$190.00 to C$203.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 7.98% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. National Bank Financial lifted their price objective on shares of Canadian Tire from C$197.00 to C$201.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. BMO Capital Markets lifted their price target on shares of Canadian Tire from C$180.00 to C$194.00 and gave the company a “market perform” rating in a research report on Friday. TD Securities raised their price objective on Canadian Tire from C$183.00 to C$194.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Canadian Imperial Bank of Commerce upped their target price on Canadian Tire from C$181.00 to C$189.00 in a research report on Friday, November 7th. Finally, Scotiabank boosted their price target on Canadian Tire from C$150.00 to C$155.00 and gave the company an “underperform” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$192.29.

Canadian Tire Stock Performance

CTC.A traded up C$5.47 during trading on Friday, hitting C$188.00. The stock had a trading volume of 194,259 shares, compared to its average volume of 239,542. 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 firm has a market cap of C$10.04 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.35 and a beta of 0.90. The company has a 50 day moving average price of C$174.97 and a 200-day moving average price of C$171.13. Canadian Tire has a one year low of C$139.50 and a one year high of C$196.46.

About Canadian Tire

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. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.