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

Canadian Tire (TSE:CTC.A) had its price target boosted by investment analysts at Scotia from C$200.00 to C$225.00 in a research report issued on Friday, BayStreet reports. The brokerage presently has a “sector perform” rating on the stock. Scotia‘s target price points to a potential upside of 2.04% from the company’s previous close.

A number of other equities analysts have also commented on CTC.A. Royal Bank Of Canada lifted their price target on shares of Canadian Tire from C$218.00 to C$230.00 and gave the stock an “outperform” rating in a report on Sunday, August 16th. Stifel Nicolaus increased their price objective on Canadian Tire from C$115.00 to C$220.00 and gave the company a “buy” rating in a report on Friday, August 14th. National Bank Financial lowered their target price on Canadian Tire from C$210.00 to C$209.00 and set a “sector perform” rating for the company in a research report on Friday, August 14th. Jefferies Financial Group lifted their target price on Canadian Tire from C$179.00 to C$199.00 in a report on Friday, August 14th. Finally, Desjardins upped their price target on Canadian Tire from C$200.00 to C$217.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$215.90.

Canadian Tire Trading Up 0.3%

CTC.A traded up C$0.73 during trading on Friday, reaching C$220.50. 76,831 shares of the company’s stock were exchanged, compared to its average volume of 222,312. Canadian Tire has a one year low of C$164.48 and a one year high of C$222.71. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The stock has a market capitalization 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. The firm has a fifty day moving average price of C$196.30 and a two-hundred day moving average price of C$190.67.

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.