TD Securities Issues Pessimistic Forecast for Canadian Tire (TSE:CTC.A) Stock Price

Canadian Tire (TSE:CTC.A) had its price target dropped by investment analysts at TD Securities from C$182.00 to C$176.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 23.26% from the company’s current price.

Several other brokerages have also issued reports on CTC.A. CIBC raised their target price on Canadian Tire from C$160.00 to C$165.00 in a research report on Friday, November 8th. Royal Bank of Canada raised their target price on Canadian Tire from C$188.00 to C$192.00 in a research report on Friday, November 8th. Canaccord Genuity Group raised their target price on Canadian Tire from C$157.00 to C$160.00 and gave the stock a “hold” rating in a research report on Monday. Finally, BMO Capital Markets raised their target price on Canadian Tire from C$152.00 to C$170.00 in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Canadian Tire has an average rating of “Hold” and a consensus target price of C$148.60.

Canadian Tire Trading Down 1.6 %

TSE:CTC.A traded down C$2.32 during trading hours on Friday, hitting C$142.79. 123,931 shares of the company were exchanged, compared to its average volume of 329,576. The stock has a market capitalization of C$7.45 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 0.35 and a beta of 1.33. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. Canadian Tire has a one year low of C$126.25 and a one year high of C$169.27. The company has a fifty day simple moving average of C$157.49 and a 200 day simple moving average of C$154.96.

Insider Activity at Canadian Tire

In other news, Director Steve Frazier bought 350 shares of the company’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of C$152.56 per share, with a total value of C$53,397.68. 1.90% of the stock is owned by insiders.

Canadian Tire Company Profile

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.