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

Canadian Tire (TSE:CTC.A) had its price target hoisted by equities research analysts at Scotia from C$200.00 to C$225.00 in a research report issued on Friday, BayStreet reports. The firm presently has a “sector perform” rating on the stock. Scotia‘s price target would indicate a potential upside of 2.04% from the stock’s current price.

CTC.A has been the topic of several other research reports. Desjardins upped their target price 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. 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 report on Friday, August 14th. Royal Bank Of Canada boosted their price target on Canadian Tire from C$218.00 to C$230.00 and gave the company an “outperform” rating in a research note on Sunday, August 16th. Stifel Nicolaus increased their price target on Canadian Tire from C$115.00 to C$220.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Jefferies Financial Group raised their price objective on shares of Canadian Tire from C$179.00 to C$199.00 in a research report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$215.90.

Canadian Tire Trading Up 0.3%

Canadian Tire stock traded up C$0.73 during trading hours on Friday, reaching C$220.50. 76,831 shares of the company’s stock were exchanged, 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. Canadian Tire has a twelve month low of C$164.48 and a twelve month high of C$222.71. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The firm has a market capitalization of C$11.50 billion, a PE ratio of 17.44, a PEG ratio of 0.35 and a beta of 0.66.

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.