Canadian Tire (TSE:CTC.A) Given a C$235.00 Price Target at Desjardins

Canadian Tire (TSE:CTC.A) has been assigned a C$235.00 price target by stock analysts at Desjardins in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Desjardins‘s price target indicates a potential upside of 6.58% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Stifel Nicolaus lifted their target price on Canadian Tire from C$115.00 to C$220.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Jefferies Financial Group increased their price target on shares of Canadian Tire from C$179.00 to C$199.00 in a research report on Friday, August 14th. Royal Bank Of Canada raised their price objective 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. Scotia lifted their price objective on shares of Canadian Tire from C$200.00 to C$225.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, National Bank Financial dropped their target price on shares of Canadian Tire from C$210.00 to C$209.00 and set a “sector perform” rating on the stock in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$215.90.

Canadian Tire Stock Performance

TSE:CTC.A traded up C$0.73 during trading on Friday, reaching C$220.50. The company’s stock had a trading volume of 76,831 shares, compared to its average volume of 222,312. The firm has a market cap of C$11.50 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79. The firm has a 50 day moving average of C$196.30 and a 200-day moving average of C$190.67. Canadian Tire has a 12 month low of C$164.48 and a 12 month high of C$222.71.

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.