Desjardins Lowers Canadian Tire (TSE:CTC.A) Price Target to C$200.00

Canadian Tire (TSE:CTC.A) had its price objective lowered by stock analysts at Desjardins from C$203.00 to C$200.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 17.82% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. National Bank Financial cut their target price on shares of Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating on the stock in a research note on Friday. Scotiabank raised shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from C$160.00 to C$180.00 in a research note on Friday, February 20th. BMO Capital Markets upped their target price on shares of Canadian Tire from C$180.00 to C$194.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Royal Bank Of Canada cut their target price on shares of Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, TD Securities boosted their price target on shares of Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$197.50.

Canadian Tire Stock Down 3.0%

CTC.A traded down C$5.20 during trading hours on Friday, hitting C$169.75. 124,284 shares of the company’s stock were exchanged, compared to its average volume of 247,115. Canadian Tire has a 12-month low of C$158.18 and a 12-month high of C$202.46. The firm has a 50 day moving average of C$189.09 and a 200 day moving average of C$179.28. The firm has a market cap of C$8.95 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 0.35 and a beta of 1.17. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

Canadian Tire (TSE:CTC.A) last announced its earnings results on Thursday, May 14th. The company reported C$2.02 earnings per share for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The firm had revenue of C$3.57 billion for the quarter. Analysts predict that Canadian Tire will post 13.638961 EPS for the current fiscal year.

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.