Royal Bank of Canada Forecasts Strong Price Appreciation for Canadian Tire (TSE:CTC.A) Stock

Canadian Tire (TSE:CTC.A) had its target price upped by Royal Bank of Canada from C$188.00 to C$192.00 in a research note issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 24.68% from the stock’s current price.

A number of other analysts have also commented on the stock. Jefferies Financial Group lifted their price target on shares of Canadian Tire from C$121.00 to C$126.00 in a research note on Friday, August 9th. National Bankshares lifted their target price on shares of Canadian Tire from C$146.00 to C$158.00 in a research report on Friday, August 9th. Desjardins increased their price target on Canadian Tire from C$165.00 to C$175.00 in a report on Friday, August 9th. TD Securities raised Canadian Tire from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$160.00 to C$175.00 in a report on Friday, August 9th. Finally, CIBC increased their target price on Canadian Tire from C$153.00 to C$160.00 in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$147.89.

Canadian Tire Trading Up 0.9 %

Shares of TSE:CTC.A opened at C$154.00 on Friday. Canadian Tire has a 1 year low of C$126.25 and a 1 year high of C$163.00. The stock’s fifty day moving average price is C$156.80 and its 200-day moving average price is C$146.31. The company has a market cap of C$8.04 billion, a P/E ratio of 22.48, a PEG ratio of 0.35 and a beta of 1.33. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15.

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.