Canadian Tire (CTC.A) Lowered to “Equal Weight” at Barclays

Canadian Tire (TSE:CTC.A) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday. They currently have a C$166.00 price objective on the stock, down from their prior price objective of C$193.00. Barclays‘s price objective would indicate a potential upside of 11.97% from the company’s current price.

A number of other research analysts have also issued reports on the stock. National Bank Financial restated an “outperform” rating and set a C$181.00 target price on shares of Canadian Tire in a research report on Tuesday, January 15th. CIBC decreased their target price on shares of Canadian Tire from C$188.00 to C$179.00 in a research report on Monday, October 29th. Raymond James decreased their target price on shares of Canadian Tire from C$198.00 to C$181.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 7th. Finally, Royal Bank of Canada increased their target price on shares of Canadian Tire from C$197.00 to C$201.00 and gave the stock an “outperform” rating in a research report on Friday, November 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of C$185.36.

Shares of TSE:CTC.A traded down C$4.20 on Monday, reaching C$148.25. 216,015 shares of the company’s stock were exchanged, compared to its average volume of 241,044. Canadian Tire has a twelve month low of C$140.60 and a twelve month high of C$180.21. The firm has a market cap of $8.91 billion and a PE ratio of 13.71. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 157.36.

About Canadian Tire

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, and petroleum under the Canadian Tire, Canadian Tire Gas, Mark's, PartSource, and FGL banners.

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Analyst Recommendations for Canadian Tire (TSE:CTC.A)

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