Canaccord Genuity Group Forecasts Strong Price Appreciation for Canadian Tire (TSE:CTC.A) Stock

Canadian Tire (TSE:CTC.A) had its price target raised by Canaccord Genuity Group from C$157.00 to C$160.00 in a research report sent to investors on Monday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

Several other research analysts have also recently commented on CTC.A. BMO Capital Markets raised their target price on shares of Canadian Tire from C$152.00 to C$170.00 in a report on Thursday, January 30th. CIBC increased their price target on shares of Canadian Tire from C$160.00 to C$165.00 in a research report on Friday, November 8th. Royal Bank of Canada increased their price target on shares of Canadian Tire from C$188.00 to C$192.00 in a research report on Friday, November 8th. Finally, TD Securities increased their price target on shares of Canadian Tire from C$175.00 to C$182.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$151.60.

Canadian Tire Stock Down 0.7 %

Shares of CTC.A opened at C$157.40 on Monday. Canadian Tire has a 12 month low of C$126.25 and a 12 month high of C$169.27. The firm’s 50 day moving average is C$157.72 and its 200-day moving average is C$154.93. The stock has a market capitalization of C$8.22 billion, a PE ratio of 22.98, a P/E/G 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.

Insider Buying and Selling at Canadian Tire

In other Canadian Tire news, Director Steve Frazier purchased 350 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of C$152.56 per share, for a total transaction 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.