Canadian Tire (TSE:CTC.A) Price Target Raised to C$173.00 at CIBC

Canadian Tire (TSE:CTC.A) had its price target lifted by analysts at CIBC from C$167.00 to C$173.00 in a research report issued on Friday, BayStreet.CA reports. CIBC’s price objective points to a potential upside of 12.62% from the company’s previous close.

A number of other equities analysts have also recently commented on CTC.A. Royal Bank of Canada dropped their target price on Canadian Tire from C$197.00 to C$190.00 and set an “outperform” rating for the company in a report on Friday, August 9th. BMO Capital Markets dropped their target price on Canadian Tire from C$158.00 to C$147.00 in a report on Friday, August 9th. National Bank Financial lifted their target price on Canadian Tire from C$166.00 to C$173.00 and gave the stock an “outperform” rating in a report on Friday. TD Securities dropped their target price on Canadian Tire from C$195.00 to C$185.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Canaccord Genuity dropped their target price on Canadian Tire from C$170.00 to C$160.00 in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of C$174.56.

Shares of Canadian Tire stock traded up C$2.90 on Friday, reaching C$153.61. The company had a trading volume of 335,676 shares, compared to its average volume of 241,044. The firm has a market cap of $8.82 billion and a price-to-earnings ratio of 13.75. The company has a debt-to-equity ratio of 208.50, a current ratio of 1.81 and a quick ratio of 1.33. The firm’s 50-day moving average price is C$144.87 and its two-hundred day moving average price is C$142.87. Canadian Tire has a 1 year low of C$131.31 and a 1 year high of C$167.40.

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.

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

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