CIBC Cuts Canadian Tire (TSE:CTC.A) Price Target to C$156.00

Canadian Tire (TSE:CTC.A) had its target price lowered by stock analysts at CIBC from C$165.00 to C$156.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 9.25% from the stock’s previous close.

A number of other research analysts also recently issued reports on CTC.A. TD Securities dropped their price objective on Canadian Tire from C$182.00 to C$176.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada boosted their target price on Canadian Tire from C$188.00 to C$192.00 in a research report on Friday, November 8th. BMO Capital Markets decreased their target price on Canadian Tire from C$170.00 to C$155.00 in a research report on Friday. Finally, Canaccord Genuity Group boosted their price objective on Canadian Tire from C$157.00 to C$160.00 and gave the stock a “hold” rating in a report on Monday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Canadian Tire presently has an average rating of “Hold” and an average price target of C$148.60.

Canadian Tire Trading Down 1.6 %

CTC.A traded down C$2.32 during midday trading on Friday, hitting C$142.79. 123,931 shares of the company were exchanged, compared to its average volume of 329,576. The firm has a market capitalization of C$7.45 billion, a P/E ratio of 20.85, a P/E/G ratio of 0.35 and a beta of 1.33. Canadian Tire has a 1-year low of C$126.25 and a 1-year high of C$169.27. The firm’s 50 day moving average price is C$157.49 and its 200-day moving average price is C$154.96. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58.

Insider Transactions at Canadian Tire

In other news, Director Steve Frazier acquired 350 shares of Canadian Tire stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of C$152.56 per share, with a total value of C$53,397.68. Company insiders own 1.90% of the company’s stock.

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.