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

Canadian Tire (TSE:CTC.A) had its price objective increased by TD from C$210.00 to C$230.00 in a research note issued on Friday, BayStreet reports. The brokerage currently has a “hold” rating on the stock. TD‘s price target indicates a potential upside of 4.31% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus set a C$235.00 target price on Canadian Tire and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group boosted their price target on Canadian Tire from C$179.00 to C$199.00 in a report on Friday, August 14th. Desjardins set a C$235.00 price target on Canadian Tire and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada raised their price objective on Canadian Tire from C$218.00 to C$230.00 and gave the stock an “outperform” rating in a report on Sunday, August 16th. Finally, National Bank Financial lifted their price objective on Canadian Tire from C$214.00 to C$235.00 and gave the company a “sector perform” rating in a research report on Friday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$215.90.

Canadian Tire Price Performance

TSE:CTC.A traded up C$0.73 during mid-day trading on Friday, hitting C$220.50. 76,831 shares of the company’s stock traded hands, compared to its average volume of 222,312. The firm’s 50 day simple moving average is C$196.30 and its 200 day simple moving average is C$190.67. The company has a market cap of C$11.50 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66. Canadian Tire has a 1 year low of C$164.48 and a 1 year high of C$222.71. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79.

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.