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

Canadian Tire (TSE:CTC.A) had its price objective raised by stock analysts at Scotia from C$180.00 to C$200.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotia’s price target points to a potential upside of 0.67% from the stock’s current price.

Several other research analysts have also recently weighed in on CTC.A. Royal Bank Of Canada lifted their price target on shares of Canadian Tire from C$216.00 to C$218.00 and gave the stock an “outperform” rating in a research note on Monday. National Bank Financial reduced their price objective on 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. BMO Capital Markets lowered their target price on Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating on the stock in a research report on Friday, May 15th. Desjardins boosted their price target on Canadian Tire from C$200.00 to C$217.00 and gave the company a “buy” rating in a report on Tuesday. Finally, TD upped their price target on Canadian Tire from C$200.00 to C$210.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$202.91.

Canadian Tire Stock Performance

Shares of TSE:CTC.A traded down C$1.63 during trading on Friday, hitting C$198.67. The company’s stock had a trading volume of 39,932 shares, compared to its average volume of 227,019. 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$10.45 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 0.35 and a beta of 1.04. The company has a 50-day moving average of C$194.70 and a 200-day moving average of C$188.13. Canadian Tire has a 12 month low of C$159.20 and a 12 month high of C$208.08.

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

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.