Canadian Tire (TSE:CTC.A) Rating Increased to Outperform at BMO Capital Markets

Canadian Tire (TSE:CTC.A) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a C$170.00 target price on the stock. BMO Capital Markets’ price target indicates a potential upside of 17.34% from the company’s previous close.

Several other research firms also recently issued reports on CTC.A. Royal Bank of Canada upped their price target on Canadian Tire from C$188.00 to C$192.00 in a research note on Friday, November 8th. TD Securities decreased their target price on Canadian Tire from C$182.00 to C$176.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Canaccord Genuity Group increased their target price on Canadian Tire from C$157.00 to C$160.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Finally, CIBC decreased their target price on Canadian Tire from C$165.00 to C$156.00 in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Canadian Tire currently has a consensus rating of “Moderate Buy” and an average target price of C$149.40.

Canadian Tire Stock Down 0.1 %

Shares of CTC.A traded down C$0.21 during trading hours on Thursday, hitting C$144.88. 84,112 shares of the company were exchanged, compared to its average volume of 341,605. The company has a market cap of C$7.56 billion, a PE ratio of 21.15, a PEG ratio of 0.35 and a beta of 1.33. The firm’s 50 day moving average is C$156.51 and its 200-day moving average is C$154.95. Canadian Tire has a 52 week low of C$126.25 and a 52 week high of C$169.27. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79.

Insiders Place Their Bets

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

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.