TD Lowers Canadian Tire (TSE:CTC.A) Price Target to C$200.00

Canadian Tire (TSE:CTC.A) had its target price reduced by research analysts at TD from C$205.00 to C$200.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD’s price objective would suggest a potential upside of 17.82% from the company’s previous close.

CTC.A has been the subject of several other research reports. Scotiabank upgraded shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from C$160.00 to C$180.00 in a research note on Friday, February 20th. BMO Capital Markets lowered their target price on shares of Canadian Tire from C$194.00 to C$185.00 and set a “market perform” rating for the company in a research note on Friday. National Bank Financial lowered their target price on shares of Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating for the company in a research note on Friday. Royal Bank Of Canada lowered their target price on shares of Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Desjardins lowered their target price on shares of Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating for the company in a research note on Friday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of C$197.50.

Canadian Tire Stock Performance

CTC.A stock traded down C$5.20 during trading on Friday, hitting C$169.75. 124,284 shares of the company’s stock traded hands, compared to its average volume of 247,115. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. Canadian Tire has a 52 week low of C$158.18 and a 52 week high of C$202.46. The stock has a fifty day moving average price of C$189.09 and a two-hundred day moving average price of C$179.28. The stock has a market capitalization of C$8.95 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 0.35 and a beta of 1.17.

Canadian Tire (TSE:CTC.A) last released its earnings results on Thursday, May 14th. The company reported C$2.02 earnings per share for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The firm had revenue of C$3.57 billion during the quarter. As a group, equities analysts anticipate that Canadian Tire will post 13.638961 EPS for the current fiscal year.

About Canadian Tire

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.