CIBC Raises Canadian Tire (TSE:CTC.A) Price Target to C$165.00

Canadian Tire (TSE:CTC.A) had its target price upped by investment analysts at CIBC from C$160.00 to C$165.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 6.96% from the company’s previous close.

A number of other research analysts also recently weighed in on CTC.A. TD Securities raised Canadian Tire from a “hold” rating to a “buy” rating and raised their price objective for the company from C$160.00 to C$175.00 in a research note on Friday, August 9th. National Bankshares lifted their price target on Canadian Tire from C$146.00 to C$158.00 in a research report on Friday, August 9th. Royal Bank of Canada lifted their price target on Canadian Tire from C$188.00 to C$192.00 in a research report on Friday. Jefferies Financial Group lifted their price target on Canadian Tire from C$121.00 to C$126.00 in a research report on Friday, August 9th. Finally, Desjardins lifted their price target on Canadian Tire from C$165.00 to C$175.00 in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$147.89.

Canadian Tire Stock Performance

Shares of CTC.A stock traded up C$1.61 during trading on Friday, reaching C$154.27. The company had a trading volume of 40,543 shares, compared to its average volume of 233,495. The firm’s 50 day simple moving average is C$156.80 and its two-hundred day simple moving average is C$146.16. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. Canadian Tire has a one year low of C$126.25 and a one year high of C$163.00. The company has a market capitalization of C$8.05 billion, a PE ratio of 22.52, a PEG ratio of 0.35 and a beta of 1.33.

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, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.