Royal Bank of Canada Has Lowered Expectations for Canadian Tire (TSE:CTC.A) Stock Price

Canadian Tire (TSE:CTC.A) had its price target cut by equities researchers at Royal Bank of Canada from C$190.00 to C$188.00 in a report issued on Tuesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 23.58% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. CIBC raised their price objective on shares of Canadian Tire from C$153.00 to C$160.00 in a research report on Friday, August 9th. National Bankshares raised their price objective on shares of Canadian Tire from C$146.00 to C$158.00 in a research report on Friday, August 9th. TD Securities upgraded shares of Canadian Tire from a “hold” rating to a “buy” rating and raised their price objective for the company from C$160.00 to C$175.00 in a research report on Friday, August 9th. Desjardins raised their price objective on shares of Canadian Tire from C$165.00 to C$175.00 in a research report on Friday, August 9th. Finally, Jefferies Financial Group lifted their price target on shares of Canadian Tire from C$121.00 to C$126.00 in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$146.89.

Canadian Tire Price Performance

Shares of TSE:CTC.A opened at C$152.13 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The company has a market cap of C$7.94 billion, a P/E ratio of 22.21, a PEG ratio of 0.35 and a beta of 1.33. Canadian Tire has a 52 week low of C$126.25 and a 52 week high of C$163.00. The company has a 50-day moving average price of C$157.27 and a 200 day moving average price of C$145.25.

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.