CIBC Forecasts Strong Price Appreciation for Canadian Tire (TSE:CTC.A) Stock

Canadian Tire (TSE:CTC.A) had its price objective lifted by analysts at CIBC from C$181.00 to C$189.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 9.89% from the stock’s current price.

CTC.A has been the subject of a number of other reports. Desjardins lifted their target price on Canadian Tire from C$185.00 to C$190.00 in a report on Friday. Scotiabank lifted their price objective on shares of Canadian Tire from C$150.00 to C$155.00 and gave the company an “underperform” rating in a research note on Friday. National Bankshares increased their target price on shares of Canadian Tire from C$185.00 to C$197.00 and gave the stock a “sector perform” rating in a research note on Friday. TD Securities reduced their price target on shares of Canadian Tire from C$184.00 to C$183.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Finally, BMO Capital Markets lowered shares of Canadian Tire from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$191.00 to C$175.00 in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Canadian Tire currently has an average rating of “Hold” and a consensus price target of C$178.78.

Canadian Tire Trading Up 1.0%

Shares of CTC.A stock traded up C$1.65 during mid-day trading on Friday, hitting C$171.99. The company’s stock had a trading volume of 271,423 shares, compared to its average volume of 296,822. The company has a market cap of C$9.30 billion, a PE ratio of 12.57, a P/E/G ratio of 0.35 and a beta of 1.01. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The company’s fifty day simple moving average is C$168.59 and its 200-day simple moving average is C$171.78. Canadian Tire has a 52 week low of C$139.50 and a 52 week high of C$194.39.

Canadian Tire Company Profile

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.